AED 2.8 trillion in assets of UAE banks during the month of July

the value of the assets of UAE banks increased by 0.7% on a monthly basis, to reach 2.8 trillion dirhams during the month of July, compared to 2.78 trillion dirhams at the end of June 2020.

According to Al Khaleej newspaper, the rise since the beginning of the year has reached almost 4%, compared to 2.69 trillion dirhams at the end of December 2019.

and the share of national banks in the sector’s total assets is about 87.5%.

The total assets of foreign banks operating in the country decreased by about 2.2% on a monthly basis in July, but it increased since the beginning of the year by about 2.3%, reaching by the end of July to 403.6 One billion dirhams

Total credit from national banks grew by 0.7% on a monthly basis, and 2.5% since the beginning of the year, to reach 1.61 trillion dirhams by the end of last July. On the other hand, the total credit from foreign banks decreased by 0.6% on a monthly basis last July, but it registered a growth of about 1.5% since the beginning of the year, to reach at the end of July 195.9 billion dirhams.

National banks represent a share of up to 89% of the total credit to the local economy in its various sectors. According to the details of banking indicators recently issued by the UAE Central Bank, private sector credit from national banks declined by about 0.2% on a monthly basis in July to just over a trillion dirhams, and private sector credit from national banks has not recorded any growth since the beginning of the year. At the same time, foreign bank lending to the private sector declined by about 2.2% on a monthly basis, and by 0.5% since the beginning of the year, to 131.5 billion dirhams.

government credit

With regard to government credit, the data showed that government credit from national banks declined slightly by 0.04% on a monthly basis in July, and decreased since the beginning of the year by about 3.4% Since the beginning of the year to 241.8 billion dirhams. On a monthly basis, government credit from foreign banks increased by about 3.8%, reaching a rise since the beginning of the year to 55.7%, reaching 10.9 billion dirhams at the end of July.

Public sector credit from national banks declined by 0.5% on a monthly basis, but increased 17.5% since the beginning of the year to reach 198.9 billion dirhams by the end of July. Meanwhile, credit to the public sector (companies in which the government has a stake of 50% or more) declined by about 6% on a monthly basis, but increased by 6.9% since the beginning of the year to 17.1 billion dirhams by the end of July.

personal loan growth