Middle East, CEO, Peter England discussed on BTV Simulcast


The fifth largest company in the middle east said he expects to meet or exceed twenty eight hundred financial guidance meanwhile we also had the earnings from right bank netting for the first quarter was four percent below the average analysts estimates got a little bit more from the ceo peter england wreck bank is effectively the largest sme bank in the country and we've had a position where for the last three years it's been rather difficult time than the sme market but the provision have gradually come off since the third quarter of sixteen every juiced and that's why this queue is up about thirty three percent on on the same quarter of two thousand seventeen looking at your npl ratio show here and that's climbed even though some of those provisions are lower where i mean where does it go from here does it go lower then yeah i think with with us we must've ou must've outlines are actually written off fairly fast so you for us you better off to look at al credit loss how cost of risk affectively so that's come off to about four point four percent it peaked at about six point one so gradual reduction in provision over the next three quarters and into next year interest margins remain high but they have come down and your particular case we're this with you see the trajectory from this point onwards especially since we are in an environment of rising rates you see wreck bank being very predominantly a large sme unsecured linda is a double any other bank in the entire country so now case what we are doing gradually changing the mix we're moving slightly more into wholesale banking doing more impure retail banking so our names will gradually declined but we'll always remain probably at least two times the industry average with rising emirates interbank rates eyeball together with obviously rising international rates along the us treasury yields how aggressively can you re price your products.

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