RAK Bank expects low single digit loan growth in 2016 on weak appetite from SMEs
RAK Bank said that it expects flattish loan growth in 2016 as the credit appetite of SMEs continues to be muted. Peter England, RAK Bank’s CEO, said that he expects loan growth in low single digits. He further said that business banking (RAK Bank’s SME segment) is shrinking and that it will continue to shrink for some time as there is not much demand. The bank is trying to compensate for this to some extent by lending to corporates. (Reuters)
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