The Central Bank revealed that during the first seven months of 2019, national banks granted loans amounting to one trillion and 391 billion and 606 million dirhams, which constitute 89.8% of the total loans granted locally.
He added that the private sector accounted for the bulk of these loans at a value of one trillion and 27 billion and 78 million dirhams, or 73.8% of the total loans of national banks, while the loans to the government, the public sector, insurance companies and non-bank financial institutions, And business and industry, the rest.
According to Central Bank statistics, loans granted by foreign banks accounted for 10.2% of the total credit worth AED 159 billion. The private sector accounted for the largest proportion of these loans worth 136 billion and 600 million dirhams. The remaining few were divided between government and public sector loans, insurance companies, non-bank financial institutions, business and industry.
Residents' deposits in UAE national banks accounted for more than 88.6% of the total bank deposits of residents in the UAE, in a sign of growing confidence in the national banking sector in the UAE, while the foreign banking sector accounted for the remaining percentage of resident deposits.
According to Central Bank statistics, the deposits of residents in national banks rose in July 2019 to reach one trillion and 407 billion and 237 million dirhams, compared to one trillion and 378 billion and 188 million dirhams in December 2018, an increase of more than 29 billion dirhams during the first seven months of 2019.