The assets of the UAE's 22 banks rose by 2.3% (AED 56.9 billion) in the first third of this year, bringing the total assets of these banks to AED 2571.3 billion at the end of April. The 38 banks operating in the UAE maintained their assets by the end of the first third of this year as it used to be by the end December 2018, the total assets of these banks stood at AED 354.1 billion.
The total financing portfolio of the national and resident banks increased by 1.5% (AED 22.7 billion) during the first third of this year to reach AED 1488.5 billion at the end of April. The volume of foreign banks' portfolio declined 1.1% to AED 188.4 billion. Growth in national banks’ financing focused on the government sector, with financing for the sector increasing by 5% to AED 194.1 billion. Foreign banks also increased their financing to the government sector by 10.4% to AED 7.4 billion. National banks financing to the private sector witnessed a growth of 1% to AED 1004.6 billion, while foreign banks' financing to private sector increased 0.4% to AED 136.1 billion by the end of April.
Source: (Al Khaleej newspaper, Edited)
