Bulletin: Improving Asset Quality Supports Positive Economic Risk Trend In The UAE: BICRA Group Remains '5'

DUBAI (S&P Global Ratings) Nov. 27, 2024--S&P Global Ratings today said that the robust performance of the non-oil economy in the United Arab Emirates (UAE) has improved the banking system's asset quality indicators and reduced credit losses. Following a review of our Banking Industry Country Risk Assessment (BICRA), we now see a positive economic risk trend and have maintained the UAE in group '5'. Our BICRAs are on a scale of '1' to '10', with '1' denoting the lowest risk and '10' the highest. The change to the economic risk trend has not affected our ratings on any of the rated domestic banks. We anticipate that the banking system will continue to benefit from the performance of the UAE's non-oil

...To From BICRA group 5 5 Economic risk 6 6 Economic resilience Low risk Low risk Economic imbalances High risk High risk Credit risk in the economy Very high risk Very high risk Trend Positive Stable Industry risk 5 5 Institutional framework Intermediate risk Intermediate risk Competitive dynamics High risk High risk Systemwide funding Intermediate risk Intermediate risk Trend Stable Stable...

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