Tight liquidity may force UAE bank NBAD to raise borrowing rates -CEO
Rising rates might also impact the bank’s third quarter earnings, the lender’s chief executive said
National Bank of Abu Dhabi may have to raise borrowing rates if a prolonged environment of tight liquidity in the United Arab Emirates’ banking sector continues, chief executive Alex Thursby said in an analysts’ call on Wednesday.
“We do think the tightening liquidity will eventually force banks to raise rates, therefore that may push us,” Thursby said.
“We havent seen it yet,” he said, but added that it could impact earning estimates for the third quarter in 2016.