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National banks account for 89.8% of the total loans granted within 7 months

2019-08-27T22:07:28.826Z

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 in statistics released yesterday, that the private sector has taken the bulk



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, amounting to 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, public sector, insurance companies and non-bank financial institutions, And business and industry, the remainder. Foreign bank loans

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 small percentage was distributed between government and public sector loans, insurance companies, non-bank financial institutions, business and industry.

Resident deposits

Residents' deposits in UAE national banks accounted for more than 88.6% of the total bank deposits of residents in the UAE, a sign of growing confidence in the UAE's national banking sector, while the foreign banking sector accounted for the rest 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.

Companies and individuals

Corporate deposits accounted for AED 502.338 billion, while retail deposits accounted for AED 371.888 million.

At the same time, the deposits of residents in foreign banks amounted to 167 billion and 379 million dirhams, or 11.4% of the total bank deposits of residents, including 85 billion and 79 million dirhams corporate deposits, 67 billion and 25 million dirhams deposits of individuals, and the remaining deposits of non-financial institutions and others .

Bank investments

Local investments by banks in the UAE grew to reach AED 1.4 billion at the end of July 2019, compared to AED 3.49 billion in December 2018, an increase of AED 649 million. The number of checks handled through the Emirates Check Clearing System was 15,315,600 checks, totaling 722.537 million dirhams.

1.39

Trillion dirhams loans

Granted by banks

National in

7 months.

Source: emara

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