Capital Adequacy and Divisional Performance
Outlook
Emirates NBD
■ UAE GDP is expected to recover modestly to c.2.5% in 2010 and c.4.5% in 2011
▪ Lower inflation, stable USD and property market declines have enhanced Dubai's cost-
competitiveness
■ Q1 2010 has witnessed early signs of stability, increased economic activity and improved
consumer sentiment and business confidence in the UAE resulting from improving economic
fundamentals globally and the progress made locally in resolving market uncertainties.
■ Dubai remains well-positioned as an international trading hub and underlying economic activity
in traditional trade, manufacturing and tourism sectors are showing signs of recovery
Emirates NBD is optimistic about the expected economic recovery and is well placed to take
advantage of selected growth opportunities
Emirates NBD
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