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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Two-thirds of Gulf banks suffer from the failure of customers to repay loans

    Rocky
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    • Post n°1

    Two-thirds of Gulf banks suffer from the failure of customers to repay loans Empty Two-thirds of Gulf banks suffer from the failure of customers to repay loans

    Post by Rocky Sat Jun 04, 2016 5:31 am

    [size=30]Two-thirds of Gulf banks suffer from the failure of customers to repay loans[/size]

    04/06/2016 09:13 | Number of Views: 93
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    [rtl]Direction Press / Agencies
    Announced more than two-thirds of Gulf banks and an increase in the size of the outstanding loans in the first three months of the year is likely to increase in delinquencies with the direction of oil-dependent governments to cut spending to cope with the decline in oil prices. After several years in which banks' profits jump thanks to oil revenues in the region began to show the impact of malaise that befell the oil market continued to boom. The new global accounting standards will make lending more difficult, starting in 2018. A banker working in the UAE, "the days of large profits and expansion plans are over. Is now talking about growth in Sundays and reduce costs box because the non-performing loans will continue to rise. This is the new normal ". It illustrates the two banks of the largest banks in the region over the difficulty of affairs. Analysts have estimated that the National Commercial Bank of Saudi Arabia's largest bank in terms of assets to raise the value of its provisions to cover bad loans during the first quarter increased by 58.8 percent, partly due to delays in government payments to its customers. Bank and linking close links to the government and a group of bin Laden, the Saudi giant construction that have been affected, like many other construction companies in the sector recession with the slowdown in spending by the state. Among the most prominent signs of slowing project King Abdullah Financial District in Riyadh, where high-rise buildings stand height built is not yet complete, despite a year after the expiry date them. It also announced the National Bank of Abu Dhabi, the largest of Abu Dhabi banks in terms of assets increase in loans that leave the owners defaulted in the same period increased by 73.3 percent, also facing SMEs difficulties as well as large companies such as Al Jaber Group which has activities from construction to retail and aviation trade. He has fled abroad a lot of owners of small activities debtors. A senior bank official: The banks lost about $ 1.4 billion over the 12 months to November this way, despite the fact that the President of the Federation of the UAE banks, said this week: The number of re-negotiating with the banks is growing now. Among the 26 regional banks announced 69 percent of them increase in non-performing loans ratio, analysts and bankers expect another rise due to lower government spending and consumers. Fitch credit rating estimates show that the Abu Dhabi government has reduced spending by 20 percent in 2014, while in Saudi Arabia, official data show that cash withdrawals fell by eight percent in March compared to what it was a year ago. He cited bankers decline in support, allowances and grant disbursed last year by two months salary for workers. Said a senior banker: "There is no doubt that the income of consumers' disposable weaken for a while. There is pressure from bad debts. Nothing different from the regular session. But all of this increases the pressure on the regime." Expects the Standard & Poor's credit losses to non-performing loans rise at banks that are subject to their ratings in Saudi Arabia to between two and three percent of total loans during the twenty-four months coming up from about one percent now. This is still below the level reached by GCC banks in the wake of the collapse of the real estate market in Dubai in 2009 and was at about 4.5 percent. Banks also hit by job losses. Energy companies in Abu Dhabi and Qatar have dispensed jobs and decided to Bin Laden Group, Saudi Arabia dispense about 70 thousand jobs, or about one-third of the total staff. In an effort to increase profitability dispensed with some banks for employees, including First Gulf Bank in Abu Dhabi and National Bank of Ras Al Khaimah and units of a subsidiary of Emirates NBD. Bankers say that despite the difficulty of the exclusion of further cuts in jobs also will focus on banks to reduce lending to sectors of the economy deemed likely the largest, such as construction and retail trade risk.http://aletejahtv.org/index.php/permalink/114160.html[/rtl]
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