AED 5.1 billion in business and financial facilities during January

Media in\ Abu Dhabi
The financial services provided by the banking sector to the industrial and business sectors amounted to 5.1 billion dirhams during January 2019, which increased the total facilities to the two sectors to 797.8 billion dirhams, according to statistics of the Central Bank of the UAE, which monitors indicators of activity of banks in the country.
The facilities received by the two sectors during the month of about 11.6% of the value of facilities provided to the two sectors during the year 2018, which amounted to 43.8 billion dirhams.
The continuation of the banking system in providing facilities for business and industry continues to grow in these activities, which is considered a major engine of economic activity in the UAE.
The indicator of financial facilities for the business and industrial sectors showed a continuation of its upward trend over the past period. The value of facilities reached AED 15.3 billion in the first quarter of 2018, with monitoring rising from AED 748.9 billion in December 2017 to AED 764.2 billion at the end of the month. March last year.
During the second quarter of the same year, the value of facilities increased by 15.9 billion dirhams, bringing the total balance to 780.1 billion dirhams, while the increase amounted to 2.3 billion dirhams.
In the third quarter of the year, the facility growth index returned strongly compared to the previous quarter, with banks providing about AED 12.6 billion to the business and industrial sectors, raising the total balance to AED 792.7 billion at the end of 2018.