UAE banking assets reach 5.669T AED in July
Banking assets in the UAE increased by 1.3% in July, reaching 5.669 trillion dirhams. Meanwhile, bank credit continued its growth, rising by 41.2 billion dirhams (1.5%) to total 2.798 trillion dirhams. Domestic credit grew by 1.4% to 2.206 trillion dirhams, with lending to the private sector increasing by 2.3% for individuals and 1.1% for companies. Government loans also rose by 1.7%. Additionally, bank deposits increased by 1.1% to reach 3.51 trillion dirhams, reflecting a growth in liquidity, alongside an increase in the Central Bank’s foreign assets to 939.5 billion dirhams. The data indicates a continued financial and monetary recovery in the UAE, with expanding credit, rising liquidity, and growing foreign assets.
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