The cumulative balance of credit provided to the two sectors reached 717.3 billion dirhams at the end of August

33.9 billion dirhams financed by national banks for trade and industry within 12 months

The Central Bank: Conventional banks acquired 82.7% of the financing.

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The volume of credit finance granted by national banks to the trade and industry sectors in the country increased by 33.9 billion dirhams in 12 months, according to Central Bank statistics.

Statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors amounted to 717.3 billion dirhams at the end of last August, compared to about 683.4 billion dirhams in August 2021, an increase of 5%.

According to the statistics, the cumulative balance of credit provided by national banks to the trade and industry sectors during the first eight months of this year increased by 33.7 billion dirhams, or 4.9%, compared to about 683.6 billion dirhams in December 2021.

The volume of credit granted by national banks to the sectors of commerce and industry in the country is equivalent to 89.6% of the total cumulative balance of credit granted to the two sectors, which amounted to 800.6 billion dirhams at the end of last August, while the share of foreign banks amounted to about 10.4%, with a value of 83.3 billion dirhams.

According to Central Bank statistics, the cumulative balance of credit provided by national banks in the Emirate of Dubai for the trade and industry sectors amounted to about 355.5 billion dirhams at the end of last August, while it amounted to about 346.5 billion dirhams for national banks in the Emirate of Abu Dhabi, and 98.6 billion dirhams for national banks in the Emirates. other.

Conventional banks acquired about 662 billion dirhams, or 82.7% of the credit financing granted to the trade and industry sectors at the end of last August, while the share of Islamic banks amounted to about 138.6 billion dirhams, equivalent to 17.3%.

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