Browsing: domestic credit

Banks in the UAE issued AED 19 billion (USD 5 billion) in credit to the…

The UAE Central Bank (CBUAE) reported a 1.3% increase in total banks’ assets, including bankers’ acceptances, reaching AED 4.456T at the end of October 2024, up from AED 4.4T in September 2024.

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).