Media ININ Economy We Trust
Media In – Abu Dhabi 11 February 2018 WAM
Deposits on loans to banks operating in the UAE have exceeded AED 47 billion in 2017 compared to 2016 as a result of the expansion of the banking system by granting credit facilities, according to figures issued by the Central Bank of the UAE.
Experts in the banking sector stressed that the ability of banks to achieve surplus deposits reflects the increase in their liquidity level during the past year, which contributed to raising the financial solvency ratio of the system in general.
Experts pointed out that the sharp increase in interest rates in recent months has been a catalyst for customers to invest in this tool for secure and good gains compared to other investment instruments.
A special reading of deposits in the country’s banking system showed that the total balance rose to AED 1.627.4 trillion at the end of December compared to AED 1.562 trillion in the same month of 2016.
The increase in deposits came as a result of an increase in deposits of AED 1.435 trillion at the end of December compared to 1.364 trillion at the end of 2016. Government deposits jumped from 186.8 billion dirhams to 212 billion dirhams in the same period.
