Residents deposit 13 billion dirhams in banks within 3 months


The value of personal deposits that residents pumped into UAE banks during the last quarter of 2020 amounted to about 13 billion dirhams, according to statistics issued by the UAE Central Bank.

The growth in this item came mostly from bank accounts, supported by savings deposits, which reflects the investment trend of individuals residing in the UAE.

The continued growth of personal deposits in banks in recent months has contributed to raising the cumulative total for this type of bank balances to the level of 493.9 billion dirhams at the end of December 2020 compared to 480.9 billion dirhams in September of the same year, according to Central Bank statistics.

The monitoring of the personal deposit account movement index for residents of banks during the last quarter of last year showed that it maintained good growth rates, as it rose in October to the level of 482.32 billion dirhams.

The balance continued to rise in November to the level of approximately 485.53 billion dirhams, before jumping in the last month of last year to the level indicated previously.

Personal deposits accounted for about 26.2% of the total balance of deposits of various categories in banks operating in the UAE, which amounted to approximately 1.884 trillion dirhams at the end of 2020.

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