The Central Bank of the UAE reported that as of January 2023, savings deposits in the UAE banks, excluding interbank deposits, reached AED 245.537B, reflecting a YoY increase of approximately AED 2.023B or 0.92 percent from AED 243.31B in January 2022.
Meanwhile, demand deposits grew by 5.6 percent YoY to AED 914.74B, while term deposits surged to AED 611.69B, representing a YoY growth of 19.5 percent from AED 512.04B in January 2022. It’s worth noting that the savings deposits in the UAE banks have been on a steady rise over the years, from AED 152B in 2018 to AED 172.2B in 2019, AED 215.2B in 2020, and AED 241.8B in 2021.
