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Top UAE banks report lower Q3 profits on higher impairments
Challenging macroeconomic conditions—low interest rates leading to repricing of portfolios, falling oil price and disruptions to economic activities due to COVID-19 lockdowns—led top UAE banks to report lower net profit in Q3 2020. The net profit of four largest banks—First Abu Dhabi Bank (FAB), Emirates NBD, Abu Dhabi Commercial Bank…
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