ABU DHABI - The Statistics Center in Abu Dhabi has revealed that the employee's share of wages and financial benefits (compensation) during the first quarter of 2019 was 43,411 dirhams per month.
According to statistics issued by the Central Bank, the employee's share of wages and financial benefits in the emirate's banks increased by 4% during the first quarter of 2019 compared to the fourth quarter of the year. 2018, which reached AED 41,590 per month.
According to the report, this wage and financial benefits are the highest for bank employees in Abu Dhabi since the beginning of last year, where the value of wages and financial benefits in the first quarter of last year, 41 thousand and 57 dirhams per month, and then increased to 43 thousand and 264 dirhams per month In the second quarter of 2018, it declined slightly to 43,144 dirhams per month in the third quarter, then fell again to 41,590 dirhams per month in the fourth quarter of 2018. The report noted that the total number of employees in Abu Dhabi banks, in the quarter At the end of this year, 11,871 employees, a slight decrease of 1.2% Against the quarter of 2018, which recorded 12,222 employees. The number of employees in Abu Dhabi banks has fluctuated since the beginning of 2018, reaching 11,821 employees in the first quarter of last year, then decreased to 11,819 employees in the second quarter and to 11,686 employees in the third quarter, rising in the fourth quarter to 12 thousand and 22 employees. The report revealed that the total interest received for Abu Dhabi banks increased to AED 11.339 billion during the first quarter of this year, compared to AED 10.53 billion in the fourth quarter of 2018, an increase of 13.3%, while the total interest paid amounted to four billion and 706 In the first quarter of this year, compared to AED 2.817 million in the fourth quarter of 2018, an increase of 67%.
Interest rates
The average interest rates on personal loans in Abu Dhabi banks in the first quarter of this year to 9.79% compared to 9.82% in the fourth quarter of 2018, and interest rate on the commercial loan rose to 7.77% against 7.68%. Overdraft interest rose to 9.11% in the first quarter of 2019 from 9.02% in the fourth quarter of 2018.