Granting loans and facilities back to pre-pandemic levels

«Central»: 72 billion dirhams of bank financing in 6 months

The value of cash deposits in the Central Bank amounted to 97.351 billion dirhams during the first half.

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Banks operating in the country pumped funds and loans during the first half of this year at a value of 72 billion dirhams, bringing the total credit at the end of last June to one trillion and 866 billion dirhams, compared to one trillion and 794 billion dirhams at the end of 2021, a growth of 4% during the first six months of this year. .

And data issued by the Central Bank, yesterday, showed that granting loans and facilities to various sectors returned to levels before the “Corona” pandemic.

And the “Central” had said in its quarterly survey on credit trends, which it published earlier, that there is a clear recovery in demand for loans, due to the increased appetite of dealers to take financing, whether at the level of individuals or small and medium companies, in addition to the banks’ easing of strict conditions Lending, desirous of mobilizing liquidity, and playing its role in supporting the national economy.

The Central Bank data indicated that the value of financing received by individuals during the comparison period amounted to 13.6 billion dirhams, bringing the total balance of this item at the end of last June to 361.2 billion dirhams, compared to 347.6 billion dirhams at the end of last December, with a semi-annual growth of 3.9 %.

According to statistics, the total bank financing of the industrial and commercial sector during the first half of this year amounted to 28.5 billion dirhams, with the cumulative balance of this item at the end of last June 801.6 billion dirhams, compared to 773.1 billion dirhams at the end of December 2021, a growth of 3.7%.

And the Central Bank's statistics showed that the value of clearing checks circulated using their images amounted to 607 billion dirhams, during the first six months of this year, an increase of 13.2%, compared to 536 billion dirhams during the same period in 2021.

The number of checks settled through the check clearing system during the first half of 2022 increased by 2.1%, to reach 10.9 million checks, compared to 10.6 million checks in the same period last year.

The data showed that the value of cash deposits in the Central Bank during the first six months of this year amounted to 97.351 billion dirhams, while the value of cash withdrawals from the “Central” amounted to about 103.63 billion dirhams, and it included 103.6 billion dirhams withdrawals in paper currencies, and 27.19 billion dirhams. Million dirhams in coins.

Transfers through banks

The value of remittances carried out in the banking sector in the country through the Emirates System for Money Transfers (UAEFTS) increased to more than six trillion dirhams, during the first six months of this year.

Central Bank statistics showed that the value of remittances increased on an annual basis by 26.5% in the first half of 2022, compared to remittances amounting to about 4.748 trillion dirhams, implemented in the same period last year. 

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