Media ININ Economy We Trust
The banking sector in the UAE ended the year 2022 with a growth of 10% in total assets and bank deposits, while credit recorded a lower growth of 5%.
The analysis of the “Gulf” on the data of the UAE Central Bank indicated that total bank deposits increased by 11.3% during 2022, equivalent to 225.6 billion dirhams, to reach 2.22 trillion dirhams by the end of 2022, compared to 1.99 trillion dirhams at the end of 2021. Deposits increased by 6.2% during the first half. The second quarter of last year, equivalent to 130.2 million dirhams, while the last quarter of the year recorded an increase of about 35.2 billion dirhams, or 1.6%.
The data also indicated an increase in total bank credit during the year by about 87.1 billion dirhams (5%), to reach 1.88 trillion dirhams, by the end of 2022, compared to 1.79 trillion dirhams by the end of 2021.
During 2022, bank assets in the UAE recorded a strong growth of 10.5%, or the equivalent of 348.2 billion dirhams, to reach 3.67 trillion dirhams (trillion dollars) by the end of 2022, compared to 3.32 trillion dirhams by the end of 2021.
The data indicated that bank assets increased by 6.4% during the second half of 2022, equivalent to 220.5 billion dirhams, while they increased by 2.4%, equivalent to 86.7 billion dirhams, in the fourth quarter of last year.
