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UAE banks grant AED 1.6bn facilities to business, industrial sectors in April

UAE banks grant AED 1.6bn facilities to business, industrial sectors in April
The UAE banks provided AED 1.6 billion facilities to the business and industrial sectors

UAE - Mubasher: The banks operating in the UAE have provided AED 1.6 billion facilities to the business and industrial sectors during April 2021, up from March, according to the latest data by the Central Bank of the UAE (CBUAE), the Emirates News Agency (WAM) reported.

The higher value of credit facilities shows the continued increase in the UAE's business and industrial sectors during April.

The growth in the two sectors contributed to a higher cumulative balance of credit facilities to around AED 776.4 billion by the end of April, compared to about AED 774.8 billion in March.

The facilities' total balance represented around 41.3% of the total cumulative balance of credit facilities provided by the UAE banks to the other economic activities.