ABU DHABI, Deposits by individuals continued to increase in UAE banks during the last quarter of 2020, hitting around AED13 bn despite economic challenges, statistics by the Central Bank of the UAE have showed.

This ratcheted the cumulative balance of deposits in UAE banks up to AED493.9 bn by the end of December from AED480.9 bn in September of the same year.

According to the apex bank’s statistics, individual deposits account for 26.2 percent of the total balance of this investment vehicle, including all its types and terms, which altogether stood at around AED1.884 trillion by the end of 2020.

 

Source: Emirates News Agency