National banks have acquired the largest share of savings deposits in the banking sector at 88.7%, as their balance at the end of last February reached 156.6 billion dirhams, compared to 20 billion in foreign banks, according to data released yesterday by the central bank. The data indicated that the total savings deposits in all banks, amounting to 176.6 billion dirhams, are divided roughly equally between commercial banks and their Islamic counterparts.
For his part, the banking expert, Amjad Nasr, said that «national banks have a wide spread and a large geographical coverage, through branch networks, sales representatives and digital services, in addition to that the return on investment deposits in national banks is good, and there is flexibility in opening savings accounts unlike banks Foreign, which targets the upper classes in terms of income and wealthy people. ”
He added that «national banks allow all segments to open savings accounts, ease and ease of dealing».
He indicated that foreign banks cannot open more than eight branches at the state level, and the customer wants to have a branch near it, pointing out that national banks have an advantage related to the language, as it provides its customers with employees in both Arabic and English, which creates satisfaction in dealing with customers.
According to the data, the balance of what the central bank possessed of gold bullion within its assets reached five billion and 615 million dirhams at the end of February, compared to five billion and 314 million dirhams at the end of January, with a monthly increase of 301 million dirhams, equivalent to a growth of 5.7%.
The number of employees in banks settled at the end of February at previous January levels, at 35,637 employees.
The number of checks cleared by using photocopying reached 205 thousand checks, at a value of 4.2 billion dirhams.
The bank’s balance of gold bars reached 5.6 billion dirhams at the end of last month.
National banks have wide spread across branch networks, sales representatives and digital services.
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Thousands of checks cleared for 4.2 billion dirhams.