Saving deposits in the UAE banking system, excluding interbank deposits, grew to AED 245.867B at the end of December 2022 according to data released by the Central Bank of the UAE. This marks a year-over-year increase of roughly AED 4.00B, or 1.7%, from approximately AED 241.82B in November 2021.
Over the past few years, savings deposits in banks have been on a steady incline, rising from AED 152B at the close of 2018, to AED 172.2B in 2019, and then further to AED 215.2B in 2020, as per the apex bank’s records, according to WAM.
Furthermore, the bank’s data also shows that demand deposits grew to AED 907.35B by the end of December 2022. This represents a year-over-year growth of 7% from AED 533.57 in December 2021.
