Banking

Dubai 2015 Banking

Dubai’s banking sector, which forms part of the wider UAE banking system, has continued to recover since the global financial crisis. Banking sector assets climbed 13.1% in 2013, from $487bn to $552.5bn, while deposits rose from $318bn to $348bn, a 9.5% advance, and capital adequacy ratios remained strong, at 18.3% overall. New regulations designed to protect financial institutions from systemic risk, including caps on lending to government-related entities, have been put in place, while single borrower exposure has been limited to 25% of available capital. A growing expat population and favourable exchange rates have supported growth in Dubai’s remittance industry, while the Dubai Gold and Commodities Exchange has seen strong expansion of forex trading activities in recent years.

This chapter contains an interview with Peter Baltussen, CEO, Commercial Bank of Dubai.

Previous chapter from this report:
Economy, from The Report: Dubai 2015
First article from this chapter and report:
New legislation should stabilise Dubai's banking sector
Cover of The Report: Dubai 2015

The Report

This chapter is from the UAE: Dubai 2015 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Peter Baltussen, CEO, Commercial Bank of Dubai
Peter Baltussen, CEO, Commercial Bank of Dubai: Interview