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| 22 October, 2017

UAE central bank survey projects moderate growth in loan demand

The main branch for UAE Central Bank is seen in Abu Dhabi.

The main branch for UAE Central Bank is seen in Abu Dhabi.

REUTERS/Stringer .

Demand for business credit and personal loans in the United Arab Emirates increased marginally in the July-September quarter.

DUBAI- Demand for business credit and personal loans in the United Arab Emirates increased marginally in the July-September quarter, and a moderate increase is expected in the current quarter, a central bank survey showed on Sunday.

The net balance measure for business lending - the weighted percentage of respondents reporting an increase in demand for loans minus those reporting a fall in demand - was plus 6.3 in the latest quarter, against plus 7.5 in the previous quarter.

More than 60 percent of survey respondents reported no changes to loan terms and conditions last quarter, with about 30 percent reporting a modest tightening. For the current quarter, respondents expect the net balance measure to rise to plus 17.3.

(Reporting by Andrew Torchia) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))