The assets of banks operating in the UAE increased by 1%, or 32 billion dirhams at the end of the second quarter of 2021, to reach 3.21 trillion dirhams, compared to 3.17 trillion dirhams recorded at the end of the first quarter 2021, but it increased by a lower rate of 0.6% compared to the second quarter of 2020.
The total bank credit rose by 0.9%, or the equivalent of 15 billion dirhams, to reach 1.769 trillion dirhams at the end of June 2021, compared to 1.754 trillion dirhams at the end of March 2021, while the total bank credit decreased by 1.2% on an annual basis, compared to June 2020.
Customer deposits (residents and non-residents) with banks operating in the UAE increased by 1.5 percent (27.3 billion dirhams) at the end of the second quarter of 2021 to reach 1.908 trillion dirhams, compared to 1.88 trillion dirhams at the end of the first quarter of 2021. With regard to deposits of residents only, it rose by 0.3 percent to reach 1.683 trillion dirhams, while deposits of non-residents rose by 10.9 percent to reach 225.7 billion dirhams at the end of June. On an annual basis, resident deposits and non-resident deposits increased by 1.0 percent and 12.6 percent, respectively.
Source (Al Khaleej Newspaper-UAE, Edited)
