The total banking loans of the private sector in the UAE amounted to AED one trillion and 86.51 billion, compared to AED one trillion and 87.8 billion, by end of last October, and AED one trillion and 21.98 billion by the end of 2015, increasing by AED 43.31 billion, a 4.15% over last year’s first 11 months. According to November 2016 newsletter issued by the UAE central bank, the private sector’s loans represent 74.85% of the total amount of local banking credit.
The Central Bank has increased its assets of golden alloys within the first half of last year by a 23.83% after it raised its golden properties within the second half of 2015 by a 170.9% compared to AED 347 million by the end of the first half of 2015.
Furthermore, statistics indicated that the total amount of bank deposits (for residents and non-residents) reached AED one trillion and 521.29 by end of November, compared to AED one trillion and 471.62 billion by the end of 2015.
Statistics revealed that the total amount of personal loans (commercial and consumer) rose up by AED 434.23 billion by the end of the 3rd quarter of 2016, compared to AED 430.12 billion by end of the first half of 2016 and AED 423.75 billion by the end of the 1st quarter and AED 417.1 billion by the end of 2015 with an increase of AED 17.13 billion and a growth of 4.11% in 9 months.
The personal loans (commercial and consumer) ranked first in terms of the amount of the credit allocated for them. The personal loans acquired almost a 30.22% of the residents’ banking credit allocated to all economic activities in the state by end of the 3rd quarter of 2016 compared to almost a 30.15 % by end of first half and a 30.17 % by end of the 1st quarter, and a 30.2 % by the end of 2015. According to statistics, the credit allocated to the personal loans for commercial purposes rose up to AED 295.28 billion by end of 3rd quarter compared to AED 283.63 billion by the end of 2015.
Also, the amount of credit allocated to the personal loans for consumer purposes continued to rise by AED 138.95 billion by end of the 3rd quarter compared to AED 137.64 billion by end of the first half, and AED 135.6 billion by end of the first quarter and 133.47 billion by end of 2015.
The total amount of resident’s credit allocated to trade activities reached AED 158.25 billion by the 3rd quarter compared to AED 160.71 billion by end of first half and AED 160.7 billion by end of the 1st quarter and AED 161.81 by end of 2015, which made the trade activity ranked third among its economic activities.
The banks credit to the government ranked fourth, reaching AED 165.07 billion by end of the third quarter, compared to AED 160.03 billion by end of the first half, and AED 159.3 billion by end of the first quarter and AED 157.49 billion by end of 2015
According to the central bank’s statistics, the number of national banks remained 23 banks while the branches of the national banks decreased to 850 branches by end of November compared to 857 branches at the end of October 2016. The number of foreign banks operating in the state reached 26 banks by end of November 2016 while the number of branches reached 85 branches by the end of the third quarter in 2016.
