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UAE banks' loans hit AED 1.776trn in September

UAE banks' loans hit AED 1.776trn in September
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UAE - Mubasher: The total value of loans granted by the UAE banks declined by 1.6% to AED 1.776 trillion in September 2021, compared to AED 1.8 trillion in the same month of 2020.

The UAE banks have provided the public sector with AED 222.8 billion in September, up 2.3% year-on-year (YoY) from AED 217.7 billion, according to the latest data by the Central Bank of the UAE (CBUAE).

Meanwhile, the UAE bank's loans to the private sector amounted to AED 1.119 trillion in September 2021, down 0.2% from AED 1.121 trillion in the year-ago period.

The UAE banks' loans to the government decreased by 4% to AED 245.2 billion in September from AED 255.5 billion in the corresponding month of 2020.