October 21, 2018 / 3:42 PM / 25 days ago

UAE business loan demand up in Q3, personal loans fall

DUBAI, Oct 21 (Reuters) - Demand for business loans in the United Arab Emirates increased in the July-September quarter but demand for personal loans shrank, a central bank survey showed on Sunday.

The net balance measure for business lending - the weighted percentage of respondents reporting an increase in demand for loans minus those reporting a fall - rose to plus 14.0 in the quarter from plus 11.8 in the previous quarter.

For the current quarter, companies expect a further rise to plus 22.4, with demand anticipated to increase in all emirates.

However, demand for personal loans fell back into negative territory in the July-September quarter with a net balance measure of minus 9.6. The decline was most evident in Abu Dhabi. (Reporting by Andrew Torchia; Editing by Adrian Croft)

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