The UAE accounts for 20% of Arab bank deposits

The performance of the Arab banking sector improved during 2020. Archive

Total bank deposits with Arab banks increased at the end of 2020 to about 2.296 trillion dollars, compared to 2.148 trillion dollars at the end of 2019, a growth of 6.9%, while the UAE accounted for about 19.8% of the total deposits with Arab banks at the end of 2020. This is according to the data of the Unified Arab Economic Report 2021.

The report stated that the performance of the Arab banking sector improved during 2020 compared to 2019, as the data showed an improvement in total assets, deposits, 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 2019, as the data show, from the reality of the consolidated budgets of Arab commercial banks, an increase in the total bank deposits with Arab banks (in dollar terms) to reach 2.296 trillion dollars at the end of 2020, 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 (denominated 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 total deposits, while Egypt came in third place by 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 83.6% at the end of 2020, compared to 79.4% in 2019.

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