The total private sector deposits in UAE banks increased to approximately 1.076 trillion dirhams during the month of March 2020, an increase of 1.7% and an amount of 18 billion dirhams, compared to 1.058 trillion dirhams in December 2019. The latest statistics released by the Central Bank of the Emirates today showed that private sector deposits accounted for about 58% of the total balance of deposits with the banking system, which amounted to 1.852 trillion dirhams at the end of This past March. The significant growth in private sector deposits during the first quarter of the current year reflects its maintenance of a good pace of economic activity. Regarding private sector loans, its total balance during March of this year was 1.149 trillion dirhams, an increase of 1.3% and 14.4 billion dirhams, compared with 1.134.6 One trillion dirhams in December 2019. The deposits of non-bank financial institutions witnessed a good improvement in size, their balance increased to 43.7 billion dirhams at the end of March of the year 2020 compared to 43.1 billion dirhams in February of the year Same.
