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Rate of bank lending growth in UAE reasonable - central bank

24 March 2012

UAE central bank governor, Sultan Nasser al-Suweidi has said the rate of bank lending growth in the country is "reasonable," Reuters has reported. "Bank lending is going at a reasonable rate. The rate has been close to 3.5%, which is reasonable under the circumstances," he told reporters on the sidelines of a financial conference. Despite some recovery, bank lending remains sluggish in the UAE. Provisions against bad loans rose to a record Dhs55.3bn ($15.1bn) in December, up 25% from a year ago, central bank data show.

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