Abu Dhabi – Mubasher: Bank lending in the UAE registered AED 11.8 billion in January 2018, bringing the overall loans to AED 1.295 trillion.

The private sector secured AED 5.44 billion in loans during January, driving the total loans granted to the sector to AED 970.768 billion by the end of the month, compared to AED 965.329 billion in December 2017, according to UAE’s central bank statement on Tuesday.

The industry and business sector received credit facilities worth AED 4.274 billion in the first month of 2018, the bank added.

The financial institutions obtained AED 1.282 billion in credit, while the insurance sector’s loans recorded around AED 7 million.