Arab Today, arab today hsbc uae to post rise in profits next year
Last Updated : GMT 13:11:28
Arab Today, arab today
Arab Today, arab today

HSBC UAE to post rise in profits next year

Arab Today, arab today

Arab Today, arab today HSBC UAE to post rise in profits next year

Dubai - Arabstoday

HSBC’s UAE arm expects to post an increase in profits next year and is optimistic about its outlook for the coming year despite current global economic woes, its CEO said. The Dubai-based lender, which last week said it would stop offering brokerage services to retail investors in the Gulf state, is positive about UAE growth next year, said Abdulfattah Sharaf. “I am looking at next year’s growth, [it will be the] same, or a little bit of an increase. Generally you would see [growth] on the corporate side [and] the retail market is coming back,” he said. Sharaf declined to comment how much its business would grow. “I’m positive [about UAE]. I’m very optimistic and I see 2012 is steady and there will be a small growth in the market, definitely,” he added. Economic growth in the UAE is expected to increase 3.3 percent this year from 3.2 percent in 2010, according to the International Monetary Fund. Europe’s largest bank posted a 36 percent increase in first half profits in August but plans to cut 30,000 jobs by the end of 2013, about 10 percent of the total, in a bid to stem costs. HBSC is reportedly in talks with talks with Oman International Bank over a sale of its operations in the Gulf Arab state, Reuters said on Oct 6, citing sources at the Omani bank. The ratings agency Fitch downgraded HSBC Bank Middle East in July and said it expected earnings growth to be challenging amid fewer lending opportunities in the UAE and the unrest in the Middle East and North Africa. It said the bank\'s asset quality weakened further in 2010, partly due to the classification of certain Dubai government-related entities as impaired. Non-performing loans (NPLs) have “probably peaked”, but asset quality could remain pressured in 2011, said Fitch.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hsbc uae to post rise in profits next year Arab Today, arab today hsbc uae to post rise in profits next year

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 01:47 2017 Saturday ,25 February

Bank of Ireland reports 11-pct decrease in 2016 profits

GMT 21:27 2017 Wednesday ,22 February

Banks reject Saudi Telecom bid to resolve debt issue

GMT 15:19 2017 Wednesday ,22 February

Al Rajhi Bank delegation visits Aladdiyat Al Saudia

GMT 11:30 2017 Wednesday ,22 February

HSBC Mena profit falls on higher operating expenses

GMT 13:32 2017 Tuesday ,21 February

UAE Central Bank announces banking developments

GMT 05:09 2017 Tuesday ,21 February

Economy good, but homes in German cities
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday