Mubasher TV
Contact Us Advertising   العربية

Dubai banks inject AED 31bn in UAE economy in 8M

Dubai banks inject AED 31bn in UAE economy in 8M
Dubai banks' loans reached AED 896.9bn

UAE – Mubasher: Dubai banks have injected around AED 31 billion in the UAE economy in the first eight months of 2020, according to the latest data by the Central Bank of the UAE (CBUAE).

Dubai banks' loans reached AED 896.9 billion by the end of August, up from around AED 865.9 billion in December 2019.

On an annual basis, the banks' loans increased by about 5.3% or AED 45.5 billion in August 2020, compared to AED 851.4 billion in the same month of 2019.

The banks operating in Dubai have accounted for around 50% of the total credit of the UAE banks amounting to AED 1.8 trillion by the end of August.

Dubai banks have granted AED 523.9 billion loans to the private sector by the end of August, up 1.2% from AED 517.5 billion in December.

Meanwhile, the business and industry sector were provided with AED 386.6 billion loans in August, up 2.2% from AED 378.2 billion in December.

Meanwhile, Dubai banks' total assets recorded AED 1.53 trillion by the end of August, accounting for about 47.65% of the UAE banks' total assets valued at AED 3.22 trillion.