Abu Dhabi Commercial Bank (ADCB), one of the UAEs largest banks by market capitalisation, is continuing to lend to small and medium enterprises (SMEs) despite the prevailing global credit crunch, said a senior bank executive.
"In spite of the current credit crises, we remain completely committed towards the SME sector and are in fact lending proactively to qualifying SMEs. We have not, at any time, stopped lending to SMEs," Colin Fraser, Head of ADCBs Wholesale Banking Group, told Gulf News.
"There is absolutely no restriction on SME lending in ADCB in the current year. Our only criteria is that lending should be properly assessed and that requests for finance are valid and can be repaid on time, as any prudent bank would ensure is the case," he added.
Fraser said ADCBs strategy is to place SME clients at the centre of its business.
"Our lending solutions range from collateral free loans for small entrepreneurs to full-fledged working capital solutions to mid-sized companies. We also offer niche solutions to customer segments such as logistics, healthcare and other professional services," he said.
Fraser said there hadnt been a "perceptible increase so far" in ADCBs non-performing loans in the SME sector this year.
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