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Islamic Bank | Takaful | Business Oportunity Forum |
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Subject :S&P cuts ratings on four Dubai banks amid slump..
2009-07-14 01:27:55
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| Malek |
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Joined: 2009-07-14 03:21:14
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Subject :Re:S&P cuts ratings on four Dubai banks amid slump..
2009-07-18 16:28:11
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| Nasr |
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Joined: 2009-07-18 18:19:43
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hi,
i've seen the article.
actually i'm planning to buy a house in dubai. not sure, if i should really do so or just wait and see what happening next.
???? |
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Subject :Re:S&P cuts ratings on four Dubai banks amid slump..
2009-07-18 16:43:15
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| Fawad69 |
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Joined: 2009-07-18 18:30:40
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asalaamu alaykum nasr
if you have the time i suggest you wait one more year to see how things continue... |
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Subject :Re:S&P cuts ratings on four Dubai banks amid slump..
2009-07-26 17:41:41
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| Abbas |
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Joined: 2009-07-26 19:36:52
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@fawad69
that's exactly what i think!
in either way the exposure to bad loans is just minimal in comparisonn to western banks!
maa salaama |
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Subject :Re:S&P cuts ratings on four Dubai banks amid slump..
2009-08-08 10:54:17
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| Fawad69 |
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Joined: 2009-07-18 18:30:40
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Subject :Re:S&P cuts ratings on four Dubai banks amid slump..
2009-08-27 00:05:10
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| Abbas |
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Joined: 2009-07-26 19:36:52
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DUBAI, Aug 24 (Reuters) - UAE banks, whose second-quarter profits were hit by credit provisions, may see growth curbed by difficult funding conditions but their overall profitability is attractive, Goldman Sachs said on Monday.
The bank earlier revised its ratings and stock price targets on five UAE banks. [ID:nWNAB2815]
Goldman Sachs cut First Gulf Bank FGB.AD to neutral, while raising Dubai Islamic Bank DISB.DU and Abu Dhabi Commercial Bank ADCB.AD to neutral. It also downgraded National Bank of Abu Dhabi NBAD.AD to sell from neutral.
"We ... expect funding trends to become more challenging going forward, which will negatively affect UAE banks' growth potential," Goldman Sachs said in a research note.
"But while we expect the cost of risk to remain high and top line pressure to emerge due to narrowing margins and lower volumes, we estimate that profitability levels in general will remain attractive."
Many of the banks in the UAE saw second-quarter profits decline because of provisions booked against a rise in loan defaults. That level of non-performing loans is "rising and may remain elevated for the rest of the year," Goldman said.
The main risks for the UAE banks are the continuous pressure on real estate prices and falling corporate profits, which could result in higher-than-anticipated credit losses and lower investment values, the analysts said.
The UAE banks' shares have underperformed global peers, as investors remain concerned "despite significant support from local governments, which have helped boost funding and capitalization."
"While it is not surprising that non-performing loan ratios are increasing and thus the cost of risk is rising, so far, asset quality deterioration has been gradual and well within our expectations," according to the research report.
Concerns have mounted recently over the fallout of the debt troubles at two Saudi conglomerates -- Saad Group [SAADG.UL] and Ahmad Algosaibi & Bros -- to which several UAE banks are exposed.
But Goldman said the banks' total exposure is relatively small and that systemic risk due to credit quality is low. UAE banks have been prudent in their provisions, the real estate is mostly secured and that they remain among the best capitalized in the world, according to the analysts. (Reporting by Nicolas Parasie; Editing by Rupert Winchester) |
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Subject :Re:S&P cuts ratings on four Dubai banks amid slump..
2009-09-10 21:42:34
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| Rasman |
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Joined: 2009-09-10 21:32:19
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to everyone in this thread: just be careful and put some of your money in gold
and real estate!
Better safe than sorry!
take care
rasman |
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Subject :Re:S&P cuts ratings on four Dubai banks amid slump..
2009-10-01 18:55:53
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| Abbudin |
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Joined: 2009-08-03 01:13:46
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Subject :Re:S&P cuts ratings on four Dubai banks amid slump..
2009-12-30 21:32:12
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| Salim |
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Joined: 2009-12-30 21:22:28
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hi guys,
i've read your article about dubai. and as you can see the foreign minister of UAE decided that the crisis is over. http://www.reuters.com/article/idUSTRE5BG2KZ20091217 Interesting!?
My guess: it get's even worse in 2010, sorry to say that!
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Subject :Re:S&P cuts ratings on four Dubai banks amid slump..
2010-05-22 22:13:00
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| sesame |
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Joined: 2010-05-22 21:40:02
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DUBAI // It may be a pioneer of Islamic banking and the largest Sharia-compliant lender in the country, but analysts are increasingly pessimistic about the short-term outlook for Dubai Islamic Bank (DIB).
The bank is falling out of favour due to concerns about its asset quality and exposure to the property sector. Its declining income from fees and uncertainties over its 19 per cent stake in the mortgage financier Tamweel are added worries.
here is the full article:
http://www.thenational.ae/apps/pbcs.dll/article?AID=/20100517/BUSINESS/705179956/1005 |
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Subject :Re:S&P cuts ratings on four Dubai banks amid slump..
2010-06-03 22:22:20
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| dubai79 |
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Joined: 2009-08-22 14:54:41
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Moody's downgrades Dubai Bank On Debtor Concerns
Wonder when the floor is reached?! |
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Subject :Re:S&P cuts ratings on four Dubai banks amid slump..
2010-07-24 14:18:07
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