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UAE banks grant non-residents AED 19.7bn facilities in 11M

UAE banks grant non-residents AED 19.7bn facilities in 11M
The UAE banks have provided AED 19.7bn facilities to non-residents

UAE - Mubasher: The UAE national banks have provided AED 19.7 billion credit facilities to their non-resident clients during the first 11 months of 2020, according to the Emirates News Agency (WAM).

The total balance of credit facilities granted to non-residents in the UAE reached around AED 149 billion by the end of November 2020, as shown by the latest statistics of the Central Bank of the UAE (CBUAE).

During the first quarter (Q1) of 2020, the UAE's non-residents obtained AED 138.16 billion facilities, compared to AED 129.34 billion in December 2019.

The credit facilities obtained by non-residents represented around 8.3% of the UAE banks' total credit facilities worth AED 1.795 trillion in 11 months.