Media ININ Economy We Trust
29-04-2019 Media in\ Abu Dhabi
The value of savings account balances with the banking system in the UAE increased to AED 155.4 billion during the first two months of this year with growth of 2.2% and AED 3.4 billion compared to December of 2018.
The increase in the balance of the saving accounts of the operating banks is an indication that the saving behavior of consumers in the community is more prevalent than citizens and residents, according to the statistics issued by the Central Bank of the UAE.
Statistics show that the bank’s savings account has continued to grow since the beginning of 2019, from AED 153.4 billion at the end of January compared to AED 152 billion in December 2018.
The increase in the balance during the month of February this year, worth about two billion dirhams compared with the month before.
It should be noted that all the banks operating in the country, particularly national banks, seek to attract more savings accounts through large promotional programs in addition to providing attractive returns to customers, which encourages savings.
Interest rates have generally risen over the past period on various types of deposits, which encouraged customers to save.
