Browsing: bank deposits

Central Bank of the UAE (CBUAE) reported that gross banks’ assets, including bankers’ acceptances, increased by 0.5% from AED 4.287T in May 2024 to AED 4.310T in June. Gross credit also rose by 1.1%, driven by a 0.8% increase in domestic credit and a 2.9% rise in foreign credit.

UAE banks’ gross assets, including bankers’ acceptances, rose by over 10.8% year-on-year (YoY), reaching AED 418.1B, bringing the total to AED 4.287T, up from AED 3.869T in May 2023, according to the Central Bank of the UAE (CBUAE).

Non-resident Indians (NRIs) deposited over $1B into various bank schemes in India in April, marking a significant shift from a $150M outflow during the same period last year. This reversal indicates a change in expatriate remittances back to their homeland.

In June of this year, bank deposits in the UAE increased sequentially month-over-month by 2.5…