Non-resident deposits in UAE banks record 2-yr high

Abu Dhabi – Mubasher: Non-resident deposits in the UAE-based banks rose to AED 196.1 billion at the end of July, its highest level in two years.

Meanwhile, loans granted by the Emirati banks to non-residents reached AED 124.7 billion during July, according to a report released by the Central Bank of the UAE (CBUAE).

“The growth in non-resident deposits with local banks reflected the high confidence in the banking system whose indicators yielded significant positive results since the beginning of 2018,” the Emirates New Agency (WAM) said.

A steady growth in non-resident deposits was observed year-to-date, the CBUAE revealed.

“Loans extended by banks to non-residents accounted for 8.3% of the total balance of credit which was valued at nearly AED 1.6 trillion,” WAM noted, as per the central bank’s data.

Mubasher Contribution Time: 06-Sep-2018 19:11 (GMT)
Mubasher Last Update Time: 09-Sep-2018 12:07 (GMT)