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Demand for business credit, personal loans up slightly in UAE

Demand for business credit, personal loans up slightly in UAE

Credit demand is expected to continue rising slowly in the current quarter

Demand for business credit and personal loans in the United Arab Emirates increased slightly in the April-June quarter and is expected to continue rising slowly in the current quarter, a central bank survey showed on Sunday.

The net balance measure for business lending – the weighted percentage of respondents reporting an increase in demand for loans minus those reporting a fall in demand – was plus 7.5 in the latest quarter compared to plus 7.6 in the previous quarter.

Over 50 per cent of respondents reported no changes in credit standards during the latest quarter while 25-35 per cent reported a modest tightening, the survey found. For the current quarter, respondents expect the net balance measure to rise to plus 16.3.

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