Non-resident deposits in UAE banking system exceed loans by AED64.5 billion

ABU DHABI, The value of non-resident deposits in the UAE's banking system exceeded non-resident loans by AED64.5 billion at the end of May 2019 compared to the same period in 2018, according to statistics from the UAE Central Bank.

This statistics reflect the trust in the country's banking systems, which has enabled it to attract more foreign investments.

The total balance of non-resident deposits amounted to AED209 billion at the end of May, compared to non-resident loans worth AED144.5 billion during the same period.

In its recent report, the UAE Central Bank highlighted an increase in banking activity, which reflects an improvement to various indexes related to the sector.

Its statistics also show that the UAE banking system is continuing to attract non-resident deposits, which amounted to AED192 billion in May 2018 before rising to AED205.4 billion in September of the same year.

By the end of the first quarter of 2019, the total balance of non-residents deposits amounted to AED208.2 billion, before closing at AED209 billion by the end of May.

The country's total deposits amounted to AED1.759 trillion at the end of May while the value of total loans reached AED1.681 trillion during the same period.

Source: Emirates News Agency