From The Report: Abu Dhabi 2013
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Operating within the largest banking sector in the GCC, Abu Dhabi’s banks have thrived, and today the UAE capital is home to some of the most successful lenders in the country. Recent years have seen a number of regulatory changes brought in. These include more prudent credit risk management policies, new controls on lending activity, and changes to the nature of banks’ concentration of risk levels. The central bank’s new regulations on retail lending, for example, aim to establish a more transparent relationship between banks and their customers and boost the overall credibility of the banking system. Looking ahead, the government’s commitment to sizeable infrastructure projects underpins the future growth of the banking sector. Still, the increasingly competitive nature of the domestic banking market will continue to drive the established trend of revenue diversification. This chapter includes an interview with Ala’a Eraiqat, CEO, Abu Dhabi Commercial Bank.