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|23 July, 2017

UAE credit demand up slightly, slow rise to continue -c.bank survey

Demand for business credit and personal loans in the United Arab Emirates increased slightly in the April-June quarter

Image used for illustrative purpose. Vehicles stop at a red light in front of the main branch of UAE Central Bank in Abu Dhabi, January 29, 2013.

Image used for illustrative purpose. Vehicles stop at a red light in front of the main branch of UAE Central Bank in Abu Dhabi, January 29, 2013.

REUTERS/Ben Job

DUBAI, July 23 (Reuters) - Demand for business credit and personal loans in the United Arab Emirates increased slightly in the April-June quarter and is expected to continue rising slowly 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 7.5 in the latest quarter compared to plus 7.6 in the previous quarter.

Over 50 percent of respondents reported no changes in credit standards during the latest quarter while 25-35 percent reported a modest tightening, the survey found. For the current quarter, respondents expect the net balance measure to rise to plus 16.3.

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

Keywords: EMIRATES CENBANK/CREDIT