Banking
From The Report: Abu Dhabi 2020
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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.

Articles from this Chapter

Overview

Well positioned: Reforms and liquidity support innovation and dynamism
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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-toincome 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…

Interview

Harmonised approach: Hareb Masood Al Darmaki, Chairman, Central Bank of the UAE (CBUAE), on recent developments to ensure sector stability
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Interview:Hareb Masood Al Darmaki What more can be done to minimise local banks’ exposure to potential risks from financial instabilities? HAREB MASOOD AL DARMAKI: The UAE’s banking system as a whole remains resilient with adequate capital, liquidity buffers, profitability and operational efficiency. With certain financial indicators, such as profitability or efficiency, the UAE banking system is performing in line or better than international and regional counterparts. Looking at external…