354.8 billion dirhams, the cumulative balance provided by banks in Dubai

The Central Bank: 37.2 billion dirhams of financing for the national banks for commerce and industry in 9 months

Conventional banks accounted for 82.8% of the credit funds granted to the trade and industry sectors.

archival

The latest statistics issued by the Emirates Central Bank revealed an increase in the volume of credit financing granted by national banks to the trade and industry sectors in the country, by about 37.2 billion dirhams during the first nine months of this year 2022, while the total cumulative balance of credit granted to the two sectors amounted to 805.1 billion dirhams at the end of last September. .

cumulative balance

The statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors amounted to 720.8 billion dirhams, compared to about 683.6 billion dirhams in December 2021, an increase of 5.44%.

According to the statistics, the cumulative balance of credit provided by national banks to the trade and industry sectors increased on an “annual basis” by 4.83% (compared to about 687.6 billion dirhams in September 2021), while it increased on a (monthly basis) by 0.56% (compared to 717.3 billion dirhams). ) in August prior to it.

percentage of the total

The volume of credit financing granted by national banks to the trade and industry sectors in the country is equivalent to 89.5% of the total cumulative balance of credit granted to the two sectors, amounting to 805.1 billion dirhams at the end of September 2022, while the share of foreign banks amounted to about 10.5%, with a value of 84.3 billion dirhams.

Credit by emirate

According to Central Bank statistics, the cumulative balance of credit provided by national banks in the Emirate of Dubai to the trade and industry sectors at the end of September 2022 amounted to about 354.8 billion dirhams, while it amounted to about 350.6 billion dirhams for national banks in the Emirate of Abu Dhabi, and 99.7 billion dirhams for national banks in Abu Dhabi. other emirates.

"Islamic" and "traditional"

Conventional banks acquired about 666.6 billion dirhams, or the equivalent of 82.8% of the credit financing granted to the trade and industry sectors at the end of last September, while the share of Islamic banks amounted to about 138.5 billion dirhams, equivalent to 17.2%.

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