According to data from the Central Bank of the UAE, large deposits exceeding AED 20M accounted for 59% of all deposits held by banks in the UAE, which amounted to AED 2.222T until the end of 2022.
The total value of deposits over AED 20M rose to AED1.31T by the end of December, marking an 11.4% increase from roughly AED1.175T at the end of December 2021. Deposits ranging from AED 5M up to AED 20M made up 12.1% of all deposits, amounting to approximately AED 269.24B, an 11% increase from AED 242.46B in December 2021.
Deposits ranging from AED 1.00M up to AED 5.00M made up approximately 13% of the total, reaching AED 288.3B at the end of last December, a 15.2% increase from AED 250.63B in December 2021, according to WAM.
Deposits between AED 500,000 and AED 1M made up 4.9% of all deposits, totaling AED 108.5B, up 13.5% from approximately AED 95.6B in December 2021. Deposits ranging from AED 250,000 to AED 500,000 amounted to AED 84.26B, down from AED87.4B in December 2021.
Finally, deposits of up to AED 250,000 accounted for 7.2% of all deposits, equivalent to AED 160.8B at the end of last December, an increase of 11.3% compared to approximately AED 144.47B in December 2021.
