«Central»: 17 billion dirhams increase in consumer loans during the first half
State banks hire 841 new employees in 6 months
Central Bank data shows the number of key employees in banks.
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Awatef Al-Harmoudi: "The trend for digital does not replace the expansion of the number of employees that banks need in their sensitive sectors."
The total number of employees in the banking sector reached 34.3 thousand employees at the end of June.
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During the first half of this year, banks operating in the country employed 841 main employees in their various branches, according to data issued by the Central Bank yesterday.
The data, which "Emirates Today" obtained a copy of, indicated that national banks employed 782 employees, equivalent to 93% of the total who were appointed, while the rest joined foreign banks with 59 employees, bringing the total number of workers in the banking sector at the end of last June to 34 1,332 employees, compared to 33,491 employees at the end of December 2021.
Thus, national banks acquired the largest number of employees working in the banking sector, with a share of 80%, equivalent to 27,545 employees, while the remaining 20% went to its foreign counterpart, with 6,787 employees.
The Central Bank data shows the number of key employees in banks, while excluding those who are hired from outsourcing companies that are sometimes affiliated with these banks.
The banks had begun to gradually raise the number of their employees, starting from the third quarter of last year, after reducing their number since the beginning of the Corona pandemic in March 2020 until the middle of 2021.
Banking expert, Awatef Al Harmoudi, said that the banks strongly support the state's plans to increase Emiratisation, especially the vital ones, pointing out that the appointment of 841 employees in banks, most of whom are citizens, is in line with the size of UAE banks and the great development they are witnessing.
She added that the trend for digital does not replace the expansion of the number of employees that banks need in their sensitive and important sectors, such as information systems, marketing, and others, noting that the new graduates of citizens hold specializations that meet the needs of banks, such as accounting, information systems, banking, marketing, media, risk and others.
Al-Harmoudi stated that the banking sector has huge expansions, which are expected to rise during the coming period at a greater pace.
In addition, the “Central” data indicated that consumer loans increased during the first half of this year, at a value of 17 billion dirhams, which is the largest increase in six months since 2017.
Statistics showed that these loans rose during the first six months of 2022 to reach 366 billion dirhams, compared to 349 billion dirhams at the end of last year, with a semi-annual growth of 4.9%.
The rise in personal loans for consumer purposes reflects the return of momentum to the trade and retail sector and the desire of individuals to consume after a period of stagnation and apprehension that accompanied the spread of the pandemic, and after which it extended for a period of a year until it reached the various economic sectors.
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