Khaleej Times, Wednesday, Jan 11, 2023 | Jamadi Al Thani 18, 1444
Gross bank assets up to Dh3.6 trillion by end of October: Central Bank
Emirates:
Gross banks’ assets, including bankers’ acceptances, rose by 0.9 per cent, from
Dh3.583 trillion at the end of September 2022 to Dh3.615 trillion at the end of
October 2022, according to the Central Bank of the UAE (CBUAE).
In its report on the monetary and banking developments in October 2022, the bank
said that gross credit grew by 0.2 per cent, rising from Dh1.873 trillion at the
end of September 2022 to Dh1.878 trillion at the end of October 2022. Gross
Credit rose due to increase in Domestic Credit by 0.1 per cent and Foreign
Credit by 1.5 per cent.
The central bank attributed the increase in domestic credit to the increase in
credit granted to the public Sector (Government-related entities) and the
private sector by 0.7 per cent and 0.1 per cent, respectively.
Total bank deposits increased by 0.8 per cent, climbing from Dh2.187 trillion at
the end of September 2022 to Dh2.205 trillion at the end of October 2022. The
growth in total bank deposits was due to the rise in resident deposits by 0.4
per cent and non-resident deposits by 4.2 per cent.