Dubai Islamic seen to expand loan book 10% in 2014

April 23, 2014 10:00 am

The UAE’s economic recovery is expected to drive Dubai Islamic Bank’s (DIB) lending growth to catch up with peers for the first time since 2012, Bloomberg has reported. According to estimates from EFG-Hermes and Arqaam Capital, the world’s oldest Shari’ah-compliant lender may expand its loan book by about 10% this year, matching a forecast for all UAE banks made last month by Moody’s Investors Service. “Credit appetite in the UAE has recovered and the retail segment, personal loans, auto loans, should be a key driver of growth,” Shabbir Malik, an analyst at EFG-Hermes, told the news service. “They have a big branch network within the UAE, a large customer base, so it is a matter of better utilising your infrastructure.”