Higher demand for commercial loans in the third quarter

According to the results of the Central Bank's "Local Credit Analysis" survey, the third quarter of 2018 was marked by an increase in demand for commercial loans in all of the emirates, also revealing a slight decline the demand for personal loans.
The central bank's investigation predicts a growth in credit demand in all its forms during the last quarter of 2018, which includes commercial and personal loans and loans to SMEs, despite the likelihood of high interest rates. Interest on loans, according to the opinion of respondents in the sector.
In the third quarter of 2018, the Emirates of Abu Dhabi and Dubai were the most developed with regard to this type of credit, which included the majority of economic activities, including construction, real estate development, transportation, transportation and storage, communications, retail, wholesaling, mining and quarrying. According to the survey participants.
Loan growth in the commercial and industrial sectors is expected to continue, as will other sectors that will train Rafid as the head of the national economy during the fourth quarter of 2018.
The survey results attributed commercial loan volume growth in the third quarter and continued in the fourth quarter of this year in order to increase demand factors related to strong customer sales and investments in the market. fixed assets and positive expectations regarding the growth and recovery of the real estate market in general.
With respect to personal loans, the moderate decline in credit demand in the third quarter of this year was due to higher interest rates and other factors, and was more concentrated in Abu Dhabi. Respondents expect an increase in their appetite in the fourth quarter of this year, Country.
The survey showed that the decline in personal loans in the third quarter of this year was more related to auto loans, housing loans and credit cards, while the demand for Islamic financing was satisfactory, with forecasts indicating loan growth. in all its forms in the fourth quarter of this year. WAM