Media ININ Economy We Trust
Abu Dhabi, April 14: The volume of credit financing granted by national banks to the trade and industry sectors in the country increased, on an annual basis, by 5.2%, or the equivalent of 35.3 billion dirhams, at the end of last January, according to the latest statistics of the UAE Central Bank.
The statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors reached 720.2 billion dirhams at the end of last January, compared to about 684.9 billion dirhams in January 2022.
According to the statistics, the cumulative balance of credit extended by national banks to the trade and industry sectors increased on a monthly basis by 0.42%, or the equivalent of 3 billion dirhams, compared to 717.2 billion dirhams in December 2022.
The volume of credit financing granted by national banks to the trade and industry sectors in the country is equivalent to 90.1% of the total cumulative balance of credit granted to the two sectors, amounting to 799.3 billion dirhams at the end of last January, while the share of foreign banks amounted to about 9.9%, with a value of 79.1 billion dirhams.
According to Central Bank statistics, the cumulative balance of credit provided by banks in the Emirate of Dubai to the trade and industry sectors amounted to about 345.5 billion dirhams at the end of last January, while it amounted to about 357.2 billion dirhams for banks in the Emirate of Abu Dhabi, and 96.6 billion dirhams for banks in other emirates.
Conventional banks acquired about 659.8 billion dirhams, or 82.5% of the credit financing granted to the trade and industry sectors at the end of last January, while the share of Islamic banks amounted to about 139.5 billion dirhams, or 17.4%.
