6.3billion dirhams is the size of financial facilities for the trade sector within 8 months

Media In + WAM / October 24, 2018

The wholesale / retail sector / return to residents within the UAE has reached AED 6.3 billion in financial terms since the beginning of 2018 and up to the end of August, an increase of 4.1% compared to the end of 2017.
The financial facilities received by the sector constitute 18.5% of the total facilities provided to all economic sectors, which amounted to about 34 billion dirhams during the first eight months of this year.
The growth in the financial facilities provided by the banking system reflects the continued activity of the commercial sector in the country, which is one of the most important sources of support for the national economy.
Loans to the commercial sector accounted for 10.7% of the total credit balance provided by the banking system to all sectors of the economy, which amounted to 1.486 trillion dirhams at the end of August 2018, according to the latest statistics issued by the Central Bank of the UAE.
The analysis shows that all financial facilities provided by the commercial banks to the residents of the country registered for the wholesale trade, which raised the total balance of its loans to 111.4 billion dirhams, while the balance of retail loans reached 47.7 billion dirhams after seeing some customers pay what They have obligations to banks.
The bulk of the financial facilities of the sector were provided during the first quarter of this year at a value of 4.3 billion dirhams, while the remainder of the amount in the period from April to the end of August.