January 23, 2018 / 5:28 AM / a year ago

UAE demand for business loans up marginally in Q4 -central bank

DUBAI, Jan 23 (Reuters) - Demand for business loans in the United Arab Emirates increased marginally in the fourth quarter of last year, mainly because of stronger demand in Dubai, while total demand for personal loans was flat, a central bank survey showed on Tuesday.

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 - was plus 7.3 in the latest quarter, up from plus 6.3 in the previous quarter.

More than 30 percent of respondents reported a moderate tightening of credit standards during the latest quarter while around 60 percent reported no change. For the current quarter, respondents expect the net balance measure to rise to plus 17.6. (Reporting by Andrew Torchia)

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