18.1 billion dirhams of individual financing in 2021

The Central Bank: 738 new employees in banks during December 2021

11.9 billion dirhams of gold balance owned by the "Central" at the end of 2021. Emirates Today

The latest data issued by the Central Bank, yesterday evening, revealed that during December 2021, the banks individually appointed 738 new employees, bringing the total of the main employees working in the sector to 33,491 employees at the end of last December, compared to 32,753 employees at the end of the previous November.

Individual Finance

Statistics showed that banks provided financing to individuals during the past year, totaling 18.1 billion dirhams, distributed among personal loans, car financing, credit cards and others.

This is the highest level for this item in more than four years, which reflects the strong demand after the end of the Corona virus pandemic, and the accompanying noticeable decline in demand for loans by individuals.

According to the Central Bank's data, the cumulative balance of individual loans at the end of last December recorded 347.6 billion dirhams, compared to 329.5 billion dirhams at the end of 2020, an annual growth of 5.5%.

consumer loans

The figures also showed that the value of personal loans taken from banks for “consumer purposes” by residents of the country, both citizens and non-nationals, increased during the past year by 23.3 billion dirhams, to reach at the end of December 2021 to 349 billion dirhams, compared to 325.7 billion dirhams at the end of 2020.

gold balance

In turn, the record balance of gold owned by the central bank at the end of last year, worth 11.9 billion dirhams, compared to B12.8 billion dirhams at the end of the year 2020, down worth 900 million dirhams during the period.

Bank assets

He noted that national data banks' assets rose to 2.9 trillion dirhams at the end of 2021, a growth of 4.3%, or the equivalent of 120.3 billion dirhams, compared with 2.78 trillion dirhams in December 2020.

According to the data, the assets of national banks account for about 87.5% of the total banking assets in the country amounting to 3.32 trillion dirhams at the end of December 2021.

In turn, foreign banks' assets rose to 415.5 billion dirhams at the end of December 2021, an annual growth rate of 3.3%, compared to 402.3 billion dirhams in December 2020.

number of banks

Revealed «central data» on the rise in the number of national banks in the UAE end of 2021 to 22 banks as a result of the establishment of the bank local, it is the first of its kind in the region, serving the local community and handles local only currency, while the number of branches of national banks fell to 513 branches in the end of the fourth quarter of 2021.

The total number of exchange companies at the end of last year, 89 companies, compared B97 Exchange company at the end of the year 2020, and 104 exchange companies at the end of 2019.

Net revenue

Data showed «Central» rise in net banking revenues operating in the UAE during the year 2021 worth 30 billion dirhams, equivalent to a growth rate of 30.7%, to reach 128.3 billion dirhams (before taxes), compared with 98.14 billion dirhams in 2020, reflecting the speed of recovery and the return of operational banks activity levels to pre-pandemic «Kovid19».

Follow our latest local and sports news and the latest political and economic developments via Google news