The banking sector in the UAE continued its growth momentum during the first quarter of this year, recording record levels of growth in assets, credit, deposits, and investments, supported by the strength and strength of the national economy.
According to Central Bank statistics and data, the total assets of the banking sector rose to record levels, along with the growth of bank credit and deposits of residents and non-residents, while the total foreign assets of the Central Bank exceeded the barrier of AED 537 billion for the first time in its history. The investments of banks operating in the UAE exceeded AED 548 billion, while the value of transfers carried out in the banking sector through the UAE Financial Transfer System increased to more than AED 3.89 trillion during the first quarter of this year.
Source (Alkhaleej Emirati Newspaper, Edited)
