AED 155.4 billion savings account balance with the UAE banking system

01-04-2019 Media in\ Abu Dhabi
The total savings account of the banking system in the UAE increased to AED 155.4 billion, an increase of 2.2% to AED 3.4 billion during the first two months of 2019 compared to AED 152 billion in December 2018.
The increase in the savings account of banks operating in the country reflected the savings behavior of individuals and the rationalization of consumer spending.
The balance of the savings account accounted for about 11% of the total value of deposits with different ratings of the banking system in the UAE, which amounted to 1.418 trillion dirhams at the end of February this year.
The bulk of savings in the local currency / dirham savings account was AED 131.2 billion, while foreign currency savings amounted to AED 24.2 billion, according to the Central Bank of Egypt.
It is clear from the same statistics that the index of the movement of the account of savings in local currency has been active since the beginning of this year as the total balance to 129.24 billion dirhams at the end of January compared to 128.16 billion dirhams in December 2018.
The balance continued to rise during the month of February 2019, reaching 131.2 billion dirhams, an increase of 1.96 billion dirhams compared to January of the same year.
National banks attracted about 90% of total savings account balances, reaching AED 139.1 billion at the end of February, including AED 122 billion in local currency and AED 17.1 billion in foreign currency.
In terms of foreign banks, the balance of their savings account stood at approximately AED 16.2 billion, of which AED 9.2 billion was in local currency and about AED 7 billion in currency