The total assets of the banking system in the UAE jumped to about 3.095 trillion dirhams last February, an increase of 186 billion dirhams, a growth of 6.4% compared to 2.909 trillion dirhams in the same month in 2019.
This is the highest level reached by the UAE banking system, which enabled it to maintain the first position among its counterparts in the Gulf region and the Middle East.
Statistics issued by the Emirates Central Bank show an increase in the volume of deposits with banks operating in the UAE, reaching a level of 1.828 trillion dirhams during February, representing a growth of 3.4% compared to 1.768 trillion dirhams in February 2019.
The total loans of the banking system increased to 1.745 trillion dirhams in February 2020, an increase of 4.4% compared to 1.672 trillion in the same month of 2019.
Domestic credit increased from 1.524 trillion dirhams last February to 1.571 trillion dirhams in February 2019, and the amount of government credit reached 231.5 billion dirhams, while the credit size to the private sector reached 1.14 trillion dirhams and the public sector 185 billion dirhams.
On the level of bank investments, they reached 409.6 billion dirhams in February 2020, an increase of 14.3% compared to 358.4 billion dirhams in February 2019.
Source (Al-Khaleej Newspaper-UAE, Edited)
