Abu Dhabi – Mubasher: The Central Bank of the Emirates said that the superiority of deposits over loans recorded at the end of last year, its highest level in seven years, with a difference of 341 billion dirhams in favor of deposits.
And the bank stated in a report that the growth of deposits in the UAE banking system remained strong, last year, as it recorded 11.3% growth on an annual basis, to reach by the end of December 2022 the value of two trillion and 222 billion dirhams, compared to credit worth one trillion and 881 billion dirhams..
He explained that the deposits of residents in the country, including institutions and individuals, which constitute 90.4% of total deposits, increased by 13.8% on an annual basis, to reach by the end of last December two trillion and nine billion dirhams, compared to one trillion and 766 billion at the end of 2021, an annual increase of 243 billion. dirhams.
Government deposits recorded last year, a growth of 37.8%, to reach 397 billion dirhams at the end of last December, compared to 288 billion dirhams at the end of 2021, an annual increase of 109 billion dirhams..
Over the past 18 months, bank deposits, especially those of residents in the country, witnessed a steady increase, due to the increase in interest rates on deposits, which amounted to 4.5%, following repeated increases in the main interest rate by the Central Bank.
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