The total value of UAE foreign banking sector assets witnessed a rise of about 13.3% at the end of December 2019 to reach 769.946 billion dirhams, or 25% of the total assets of the sector, compared to 679.647 billion dirhams at the end of December 2018.
Emirates Central Bank data showed that the net value of foreign assets of the banking sector (after placing foreign financial obligations on the sector) increased to 89.8 billion dirhams, compared to 59.657 billion dirhams at the end of December 2018.
The value of foreign assets of national banks reached 575.45 billion dirhams, and the value of foreign assets of traditional banks amounted to about 637.025 billion dirhams.
According to the Central Bank’s data, personal loans accounted for approximately 27% of bank credit at the end of last December, amounting to about 430.951 billion dirhams, 330.141 billion of which were personal loans for consumer purposes, and about 100.81 billion personal loans for business purposes.
Source (Al-Khaleej Newspaper-UAE, Edited)
