25.6 billion dirhams of bank loans for industry and business activities within 5 months

Media in Abu Dhabi, July 1 2018,

 The total balance of loans provided by banks operating in the UAE for industrial and business activities amounted to AED 774.5 billion at the end of May, an increase of 3.4% and an increase of AED 25.6 billion compared to AED 748.9 billion in December 2017. The loans received by the industrial activities and the business sector accounted for 48% of the total loans extended by the banking system to all sectors, whose total balance at the end of last May was 1.617.3 trillion dirhams, according to the latest figures released today by the Central Bank of the UAE. Banking industry experts said the continued pace of lending to industrial and business activities is a clear sign of continued growth over the past months, which will help boost the growth rate of the national economy in the final outcome. For the first five months of this year, loans registered for industry and business accounts for about 80 percent of total loans received over the past year. It is worth mentioning that the total value of loans provided by the banking system for industry and business amounted to 20.5 billion dirhams during the year 2017.