On Sunday, the lender reported its first quarter net profit of 3.3 billion riyals ($906.22 million), down by 7% from a year earlier as it booked 1.4 billion riyals in "precautionary" loan-loss provisions.
UAE's non-oil gross domestic product (GDP) is expected to grow by 3.6% in 2021, state news agency WAM reported on Saturday citing central bank estimates, suggesting the economy will rebound from an expected contraction in 2020.