The Central Bank: 10.7% of total deposits with the UAE banking system in 2020
Non-residents' deposits beat their loans by 20.1 billion dirhams
«Central»: 202.4 billion dirhams, the cumulative total of non-resident deposits.
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Deposits of non-residents continued to outpace the value of loans provided to them during 2020, by 20.1 billion dirhams, which reflects a positive indicator in the UAE banking system.
Statistics issued by the UAE Central Bank show that the cumulative total of non-resident deposits during 2020 amounted to about 202.4 billion dirhams, offset by loans of 182.3 billion dirhams.
Non-resident loans include: loans provided by banks operating in the UAE to non-bank financial institutions, discounted commercial paper, loans and advances to the government and public sector, the private sector, companies and individuals, in local and foreign currencies.
The local market is considered one of the attractive markets in the region for non-residents, due to the great advantages offered to dealers, compared to those provided by banks in all countries of the region, whether for resident or non-resident dealers.
The interest rates on financial facilities witnessed a significant decline during the last period in the world, including the UAE market, which constituted an additional incentive for individuals and institutions dealers from inside and outside the country, to obtain their needs from financial facilities.
Depositors who are bank dealers can also get good returns on their money in a safe and secure country.
It is noteworthy that the total deposits of non-residents accounted for about 10.7% of the total deposits during 2020, while their loans accounted for about 10.2% of the total loans.
182.3
One billion dirhams of non-resident loans during 2020.
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