رئيس مجلس إدارة اتحاد مصارف الإمارات لـ CNBC عربية: نتوقع نمو اقتصاد الإمارات 5% خلال العام الحالي

CNBCArabia

Watch رئيس مجلس إدارة اتحاد مصارف الإمارات لـ CNBC عربية: نتوقع نمو اقتصاد الإمارات 5% خلال العام الحالي - CNBCArabia on Dailymotion

Transcript

00:00 The banking sector is linked to the economic sector.

00:04 We expect that this year the UAE economy will reach 5%.

00:10 If we reach 5%, the banking sector will benefit from a growth of 7% to 8%.

00:17 There is a double benefit for the banking sector.

00:22 Thank God, there is a diversification in income sources.

00:27 The banking sector has been able to overcome all international challenges over the years.

00:35 It has maintained its support for the UAE economy.

00:41 It has also developed in digital transformation.

00:45 The digital transformation that the banking sector is leading in the UAE is a major transformation.

00:55 This encouragement has also come from the central bank.

01:00 It has allowed us to have many agreements in digital transformation and services.

01:06 You also mentioned that all this development will reflect the profitability of the banking sector during the loan period.

01:13 In terms of the results of the work of 14 or 13 banks,

01:18 which are ranked in the UAE markets for the first quarter,

01:21 we have seen a profit of 23 billion dirhams.

01:25 In 2023, we had a previous meeting with you,

01:28 and the profit was more than 50%.

01:31 What do we expect from the profits this year?

01:34 Last year was exceptional in all respects.

01:40 I hope this year will continue to be the same.

01:45 The increase in profits compared to the first quarter of 2023 and 2024

01:52 is approximately 25%.

01:56 I hope this will continue.

01:59 If we maintain the profits from last year,

02:03 because we have a 9% tax this year,

02:10 we will increase the tax by 9%.

02:15 We may talk about the banking sector and its benefits from development,

02:22 and also its indicators,

02:24 but in terms of the details, the quality of the assets,

02:27 how the currency is growing under these high rates,

02:32 and also in comparison to the depository currency,

02:35 the loans and growth rates,

02:38 the capital adequacy rate,

02:40 how do you view these indicators?

02:42 The capital adequacy rate is considered one of the highest rates.

02:46 We are in the middle of 17.5%,

02:50 which is much more than the central bank's requirements, which is 12%.

02:55 So, thank God, the rate is excellent.

02:58 Banks have the ability to increase this rate if necessary,

03:05 because it will reduce the distribution of profits.

03:09 So, the rate is increasing.

03:11 I think that last year and this year,

03:16 we are going through the best period to increase the debt.

03:19 Banks and investors have become more aware,

03:27 and the types of information we get have increased.

03:36 This information is enough to make a decision to support this sector.

03:42 I'm Hal Cotar.

Category

Transcript

Recommended