Emirates NBD Financial Performance and Awards 2014
Outlook
Economic
Outlook
Emirates NBD
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For the UAE
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2014 GDP growth expectation revised down to 4.5% from 5.0% due to fall in oil price
• 2015 GDP growth forecast also revised lower to 4.3% from 4.8%
For Dubai
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2014 GDP growth expectation unchanged at 5% as non-oil sectors expanded robustly
• 2015 GDP growth forecast is 4.7% due to continued strength in non-oil sectors
Dubai residential property price growth slowed significantly in 2014. Mid-range villa prices
declined 6.7% y-o-y in December 2014
Inflation averaged 2.3% in 2014. We expect to see inflation average 3% in 2015
Emirates NBD improved its capital, funding and credit quality ratios allowing it to take
advantage of the expected opportunities in Dubai and the region
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