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Tuesday, July 3, 2012

SME lending grew 30% this year at Emirates NBD

Dubai: Emirates NBD said its lending to small- and medium-sized companies has grown 30 per cent this year and it plans to double that business over the next three years.
The Dubai government-controlled lender is boosting loans to small companies in the tourism, logistics, transportation, trading, food and beverage and services industries as economic growth rebounds in the second-biggest Arab economy, Vikas Thapar, Emirates NBD’s general manager for consumer finance and head of business banking, said.
“Dubai historically has been a haven for small and medium enterprises,” Thapar said. “SMEs were never over-leveraged, so they never had that kind of a negative impact from the crisis. Their cost structures are low and decision-making is fast.”
Economic growth in Dubai may accelerate to 3.5 to four per cent this year from 2.8 per cent in 2010, according to Citigroup Inc.

Contact for any assistance regarding the same: Faisal Ibrahim Mobile: 971 55 2419200 ADAM SME consultant 2A, Ground Floor, Building No.6, Gold & Diamond Park P.O. Box:- 183827, Dubai, U.A.E. Fax: 971 4 341 9702 Mobile: 971 55 2419200 Email : Web: ISO 9001:2008 NO: ME/08/1147 ADAM Consulting as ADAM advisors

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