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Abu Dhabi, May 19 / Savings deposits in the banking sector in the country – excluding interbank deposits – reached 245.01 billion dirhams at the end of last February, according to the latest statistics of the UAE Central Bank.
Central Bank statistics showed that savings deposits in banks witnessed a remarkable growth over the past years, increasing from 152 billion dirhams at the end of 2018 to 172.2 billion dirhams in 2019, 215.2 billion dirhams in 2020, 241.8 billion dirhams in 2021, and 245.8 billion dirhams. dirhams in 2022.
The statistics showed that demand deposits rose to 919.74 billion dirhams at the end of last February, a growth on an annual basis of 6.1%, compared to 866.66 billion dirhams in February 2022, an increase equivalent to 53.1 billion dirhams, while it increased on a monthly basis by about 0.55% compared to 914.74 billion dirhams in January. 2023.
Demand deposits continued to grow over the past years, increasing from 577.6 billion dirhams at the end of 2018 to 599.6 billion dirhams at the end of 2019, 696.8 billion dirhams at the end of 2020, 848 billion dirhams in 2021, and 907.3 billion dirhams in 2022.
According to the Central Bank’s bulletin, time deposits reached 637.6 billion dirhams at the end of last February, an increase on an annual basis by 23.3%, compared to about 517.33 billion dirhams in January 2022, an increase equivalent to 120.3 billion dirhams.
Time deposits increased on a monthly basis by 4.24%, or the equivalent of 25.9 billion dirhams, compared to 611.69 billion dirhams last January.
