UAE banks inject 105.6 billion dirhams into the private sector within 9 months

Banks operating in the country pumped 105.6 billion dirhams into the private sector during the first nine months of the current year, bringing the total private sector credit during this period by 8.5% to exceed 1.34 trillion dirhams at the end of September, compared to 1.24 trillion dirhams at the end of last year, according to banking indicators for all countries. Banks issued by the Central Bank today.

Commercial and industrial sector credit increased by 6.1% by 50.1 billion dirhams over 9 months, reaching 872.5 billion dirhams at the end of September, including 82.7 billion for medium and small companies, while credit directed to individuals grew during the same period by 13.3%, by 55.5 billion dirhams to 473.3 billion dirhams at the end of September..

According to Central Bank data, private sector credit consists of commercial and industrial sector credit and individual credit.

According to Central Bank statistics, the banks’ credit portfolio rose within 9 months to 170.6 billion dirhams, bringing the total credit of banks operating in the country to exceed 2.16 trillion dirhams..

Domestic credit rose to 122.2 billion dirhams, while foreign credit rose to 48.4 billion dirhams..

Credit to the government amounted to 193.5 billion dirhams at the end of last September, an increase of 5%, with a value of 9.2 billion dirhams over 9 months, while credit to the public sector “government-related entities” amounted to about 303.9 billion dirhams at the end of September, after it had increased by 3.9% over 9 months..

Banking indicators issued by the Central Bank of the United Arab Emirates today showed that the investments of banks operating in the country grew by 12.5%, amounting to 79.3 billion dirhams during the first 9 months of the current year, reaching 714.4 billion dirhams at the end of December..

Bank investments at the end of that period were distributed at 308.7 billion dirhams in debt securities, 17.3 billion dirhams in stocks, 333.6 billion dirhams in bonds held until maturity, and 54.8 billion dirhams in other investments..

According to Central Bank indicators, bank deposits at banks operating in the country increased by 9.5% in 9 months to exceed 2.76 trillion dirhams, divided by 2.54 trillion dirhams for resident deposits, and 213.5 billion dirhams for non-resident deposits..

The total bank reserves at the Central Bank grew during the first 9 months of the current year by 14.1% to 595.6 billion dirhams, while the total assets of the banking sector exceeded 4.4 trillion dirhams..

In addition, according to banking indicators according to the type of banks (national and foreign), the assets of national banks grew by 7.9% and the assets of foreign banks by 9.7% during the first 9 months of the current year, distributed at about 3.89 trillion dirhams for national banks and about 507.1 billion dirhams for foreign banks..

At the end of last September, national banks’ credit amounted to about 1.99 trillion dirhams, with a growth of 9% over 9 months, while foreign credit amounted to about 172.7 billion dirhams, with a growth of 3.5% during the same period..

The investments of national banks increased during 9 months by 12.5% ​​to 662.8 billion dirhams at the end of December, while the investments of foreign banks increased during the same period by 11.9% to 51.6 billion dirhams..