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UAE banks' credit facilities to non-residents hit AED 193bn in 9M

UAE banks' credit facilities to non-residents hit AED 193bn in 9M
The financial institution sector was provided with about AED 52bn

UAE - Mubasher: The credit facilities granted by the UAE banking sector to non-residents' economic activities amounted to around AED 193 billion by the end of September.

During the first nine months of 2020, the credit facilities granted by the UAE banking sector to non-residents rose by AED 27 billion, according to the latest data by the Central Bank of the UAE (CBUAE).

The credit facilities provided to non-residents accounted for about 10.6% of the total value of UAE banks' credit facilities valued at AED 1.804 trillion by the end of September.

The financial institution sector was provided with about AED 52 billion of credit facilities from UAE banks, while the UAE banking sector offered AED 31.352 billion of credit facilities to the transport and warehousing sector.

It is noteworthy to mention that during the first nine months of 2020, the banks operating in the UAE have pumped more than AED 19 billion loans into the national economy.