UAE banks see decline in assets

The assets, deposits and loans of UAE banks posted the sharpest drops of 2009 in December as the sector continued to struggle with non-performing loans and low deposit rates, UAE Central Bank statistics have revealed. For the 52 banks subject to the Central Bank's regulation, assets fell by more than Dh32bn to Dh1.51tr after recording a steady increase each month since January 2009. Deposits and loans recorded some drops during the year, but none as significant as in December, Gulf News reported.