Middle East, CEO, Peter England discussed on

WAFS Biz 1190
| WAFS Biz 1190

Automatic TRANSCRIPT

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 net income for the first quarter was four percent below the average analysts estimates you're going to need a 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 in the sme market but the provision have gradually come off since the third quarter all sixteen reduced and that's why this queue is up about thirty three percent on on the same quarter of twenty seventeen looking at u n l ratio here and that's climbed even though some of those provisions are lower where where does it go from here does it does it go lower then with us we must've must've outlines are actually written off fairly fast so you for us better off to look at how credit loss how cost effectively so that's come off to about four point four percent it peaked at about six point one gradual reduction in provision over the next three quarters and into next year interest margins they remain high but they have come down in your particular case we're this where you see the trajectory from this point onwards especially since we are in an environment of rising rates wreck bank being very predominantly a large sme unsecured linda names a double any other bank in the entire country so now what we are doing is gradually changing the mix we're moving slightly more into wholesale banking doing more pure retail banking so names will gradually decline but we'll always remain probably at least two times the industry average with rising emirates interbank rates together with obviously rising international rates along us treasury yields how aggressively can you re price your products but when we enter into.

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