UAE bank commissions AED 21 billion in 2018

Abu Dhabi 03-09-2019 / WAM
The total value of commissions received by banks operating in the UAE reached AED 21 billion in 2018, compared to AED 24.6 billion in 2017, reflecting the high pace of competition in the sector to attract the largest possible number of customers.
The proceeds of the banking sector consist of two sources: investment, commissions and fees collected from customers for services provided by banks, including loans and other facilities, payment cards and other services.
According to official statistics issued by the Central Bank, national banks have acquired 17.4 billion dirhams, which constitutes 82.8% of the total commissions received by banks operating in the country and the number of 60 banks.
At the level of foreign banks, the value of commissions reached 3.4 billion dirhams, while the rest of the commissions for the benefit of branches of Gulf banks operating in the country.
The total assets of the UAE banking system reached AED 2.878 trillion in 2018, a growth of 6.8% compared to AED 2.693 trillion in 2017.
Total deposits with the banking system increased to AED 1.755 trillion at the end of December 2018, an increase of 7.9% compared to AED 1.627 trillion in 2017.
It is noteworthy that the net profit of national banks exceeded 42.6 billion dirhams in 2018, a growth of 12% compared to the previous year, note that there are no statistics so far on the net profit of the system in general.