The total assets of UAE banks increased by 0.1% from 3040.6 billion dirhams at the end of October 2019 to 3043.1 billion dirhams at the end of November 2019, thus the banks operating in the country have added 174.6 billion dirhams to their assets with a growth rate of 6.08% during 11 months since the beginning of this year.
Total bank credit increased by 0.8% from 1708.5 billion dirhams at the end of October 2019 to reach 1721.9 billion dirhams at the end of November 2019. Thus, the banks operating in the country have provided new financing for various economic sectors by 65.7 billion dirhams, with a growth of 3.96%.
Banks increased the volume of financing to the private sector from the beginning of the year until the end of November by 1% (about 11.2 billion dirhams), which constituted about 17.04% of the total new financing provided by banks to the resident and non-resident sectors.
During the month of November 2019, the total bank deposits decreased by 0.01% (about 200 million dirhams), bringing the total balance of deposits with banks to 1819.6 at the end of last November compared to 1819.8 billion dirhams at the end of last October.
Source (Al-Khaleej newspaper, Edited)