Total assets of banks in the UAE rose from Dh4.254 trillion at the end of March to Dh4.296 trillion at the end of April.
Total increased Credit granted Of banks in the UAE by 0.8% or AED 26 billion from AED 2.047 trillion at the end of March 2024 to AED 2.073 trillion at the end of April 2024, according to the latest data Central Bank of the UAE Total credit growth was driven by a 0.7% increase in domestic credit and a 1.4% increase in foreign credit.
The expansion in domestic credit was driven by a 4.7% and 0.4% increase in government and private sector credit, respectively, offsetting a 0.5% and 3.8% decline in public sector activity, government-related entities and non-bank financial institutions.
Total assets of banks in the UAE, including bankers’ acceptances, increased by 1.0% from AED 4.254 trillion at the end of March 2024 to AED 4.296 trillion at the end of April 2024.
Total bank deposits increased by 2.3%, from AED 2.657 trillion at the end of March 2024 to AED 2.717 trillion at the end of April 2024. The increase in total bank deposits was due to a 2.7% growth in resident deposits, offsetting a 2.9% decline in non-resident deposits.
Resident deposits expanded as a result of a 13.0% and 1.4% growth in government and private sector deposits, respectively, offsetting a 0.5% and 18.8% decline in government-related entities and non-bank financial institutions deposits, respectively, at the end of April 2024.
