Media ININ Economy We Trust
MEDIA IN, Abu Dhabi, July 3, 2018 (WAM)
Total assets of national banks jumped to about AED 2.375 trillion, up 1.8 percent and worth about 42 billion dirhams in the first five months of this year, according to the latest data released by the Central Bank of UAE today. National banks accounted for 87 per cent of the total assets of the banking system in the country, amounting to AED 2,735.6 billion, while the value of foreign bank assets reached AED 360.2 billion at the end of May. The same data showed that the assets of national banks rose 3.9 percent year-on-year to 89 billion dirhams in January-May compared to the same period in 2017, which amounted to about 2.286 trillion dirhams. In terms of lending activity to national banks, the total balance reached AED 1.422.4 trillion at the end of May, an increase of about AED 31 billion compared to December 2017 which reached AED 1391 trillion. National bank credit accounted for about 88 percent of the total credit balance of the UAE banking system at the end of May, which reached AED 1.617 trillion. It is noteworthy that the total number of national banks up to 22 national banks .. The number of foreign banks 38 banks according to the Central Bank of Statistics
