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The surplus of deposits over credit doubles to 345.4 billion dirhams, amounting to 178 billion a year ago

The gap between deposits and credit in the banking system in the UAE doubled within a year, with deposits exceeding credit by 345.4 billion dirhams at the end of February 2023, compared to 178.1 billion dirhams at the end of February 2022.

The surplus of deposits over credit doubled, despite the decline in some months, to reach its highest level in January 2023 at 358.9 billion dirhams, due to the slight decline in credit during the month.

By the end of February 2023, bank credit reached 1.897 trillion dirhams, while bank deposits amounted to 2.242 trillion dirhams.

Earlier, the UAE Central Bank confirmed that the UAE banking system enjoys a large credit capacity, in light of the loan-to-deposit ratio reaching its lowest level in 7 years, indicating that the UAE banking system enjoys good capital levels, which are much higher than the limit. minimum regulatory requirements.

By the end of 2022, the UAE banking system maintained a large credit capacity, as indicated by the ratio of loans to deposits, which reached its lowest level in 7 years.

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