UAE - Mubasher: The loans granted by the UAE banks grew by 6% to AED 1.79 trillion in June 2020, compared to around AED 1.69 trillion during the same month of 2019, the latest data by the Central Bank of the UAE (CBUAE) showed.

The value of the loans provided to the government surged by 25% to AED 252.4 billion in June, when compared to the corresponding month of 2019.

Meanwhile, the UAE banks' lending to the private sector declined by 0.7% year-on-year (YoY) to AED 1.139 trillion by the end of June 2020 from AED 1.115 trillion in June 2019.

It is noteworthy to mention that the total value of the UAE banks' assets rose by 7.8% to AED 3.190 trillion in June 2020 from AED 2.959 trillion in June 2019.