From The Report: Abu Dhabi 2020
View in Online Reader

Despite the adverse effects of a low oil price environment over recent years, Abu Dhabi’s banking sector has remained well capitalised with a high degree of liquidity. Meanwhile, its financial performance has been characterised by rising net profits and lower cost-to-income ratios. A recent phase of consolidation has significantly altered the structure of the local market, with the larger balance sheets of financial institutions leaving them better positioned to make gains in an increasingly competitive domestic and international environment. Nevertheless, declining international oil prices and the effects of the global Covid-19 pandemic in early 2020 appear set to make for a challenging year for the emirate’s banking industry. This chapter contains an interview with Hareb Masood Al Darmaki, Chairman, Central Bank of the UAE.