January 24, 2016 / 11:31 AM / 3 years ago

UAE c.bank Q4 survey shows downtrend in demand for credit

DUBAI, Jan 24 (Reuters) - Demand for credit in the United Arab Emirates was in a downtrend during the fourth quarter of last year, the AE central bank said on Sunday as it released a survey of banks.

The net balance measure for business lending - the weighted percentage of respondents reporting an increase in demand for loans minus those reporting a fall in demand - dropped to minus 8.1 in the fourth quarter from plus 9.9 in the previous quarter.

However, the survey found respondents expect the net balance measure to recover to plus 3.5 in the current quarter, the central bank added. (Reporting by Andrew Torchia; Editing by Mark Heinrich)

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