ADIB cautious on credit growth
Abu Dhabi Islamic Bank anticipates to post single-digit credit growth in 2011 and that's why it will continue to book provisions going forward.
The impact of new central bank rules that will limit loans to individuals and service charges is beeing studied by ADIB. The central bank has capped personal loans at 20 times the salary or the monthly income of a borrower with a repayment period set at 48 months.
ADIB had a profit of Dh250.6m ($68.23m) in the three months to December 31.
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