(MENAFN) The United Arab Emirates recorded personal loans of about USD353.86 million in the first quarter of the year, which marked an increase by 6.5 percent when compared to the previous year, Gulf News reported.
The figures are according to data issued by the National Bank of Abu Dhabi (NBAD), which added that the majority of loan, about 34 percent, were transacted from Emirates NBD and NBAD. First Gulf Bank and Abu Dhabi Commercial Bank (ADCB) transacted 18 percent.
"Years ago, it was much easier to get loans but the Central Bank of UAE put some restrictions and banks have become more cautious," a senior economist at NBAD said in a statement.
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