Wednesday 29 March 2023

The Central Bank of the UAE

UAE banks garner $67.14bn in deposits by November end

ABU DHABI, January 29, 2023

Savings deposits in the UAE banking system, excluding interbank deposits, rose to AED246.61 billion ($67.14 billion) by November end 2022, a growth of approximately AED7.21 billion, or 3%, from about AED239.4 billion in 2021.
Statistics by the Central Bank of the UAE, revealed, savings deposits increased during the first eleven months of 2022 by 1.98%, compared to about AED241.82 billion at the end of 2021, an increase of AED4.8 billion. On a monthly basis, they grew by 0.06%, compared to about AED246.48 billion in October 2022, a WAM report said.
Demand deposits increased by AED820.83 billion, or 82.5%, to AED903.36 billion at the end of November last year, representing an annual rise of 10.1%.
Demand deposits
Demand deposits climbed by 6.5%, or the equivalent of AED55.3 billion, over the first eleven months of last year compared to AED848.04 billion at the end of 2021. They however declined on a monthly basis by 1.7% compared to AED918.97 billion in October 2022.
Time deposits increased by 17% annually to AED599.81 billion by the end of last November, up from AED513.16 billion in November 2021.-- TradeArabia News Service


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