Arab Monetary: The UAE accounts for about 20% of Arab bank deposits

The total bank deposits with Arab banks increased by the end of the year 2020 to about 2.296 trillion dollars, compared to 2.148 trillion dollars at the end of 2019, a growth of 6.9%.

The report said that the performance of the Arab banking sector improved during 2020 compared to 2019, as the data showed an improvement in total assets, total deposits, total loans and facilities, and capital bases denominated in dollars.

The report’s data showed that the bank deposits of the Arab countries as a group recorded a growth during the year 2020, at a rate that exceeded that achieved in the year 2019. The data show, from the reality of the consolidated budgets of Arab commercial banks, that the total bank deposits with Arab banks (in dollar terms) amounted to $2.296 trillion by the end of the year. 2020, with a growth of 6.9%, compared to a growth rate of 3.4% in 2019.

In terms of the relative importance of bank deposits, deposits (in dollars) with commercial banks in Saudi Arabia accounted for the highest share of the total bank deposits with Arab deposits at the end of 2020, accounting for 22.6% of the total Arab bank deposits, followed by the UAE with about 19.8% of the total Deposits and Egypt came in third place with about 14.1%.

In terms of the ratio of total bank deposits to the GDP of Arab countries as a group, the ratio of deposits to GDP increased to reach 83.6% by the end of 2020, compared to 79.4% for the year 2019.

Deposits to the private sector in the Arab countries recorded a growth of about 6.9% to reach $2.025 trillion, compared with $1.895 trillion in 2019, and the value of current deposits recorded a growth of about 16.2% during 2020 to reach $865 billion, and savings deposits grew by 0.8% to reach $1.16 billion.

The report said that the lending activity of Arab banks, denominated in dollars, continued to improve during the year 2020 for the third year in a row. and 2018.

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