National banks acquire 87.2% of the assets of the banking system – economy – local

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The value of the assets of national banks in the UAE increased to 2.729 trillion dirhams, accounting for 87.2% of the total assets of the banking system during the first quarter of this year, according to statistics issued by the Central Bank, today, which showed that 12.8% of the assets were registered in favor of foreign banks .

It is clear from the statistics that national banks succeeded in adding 41 billion dirhams to their total assets during the first quarter of 2020, a growth of 1.5% compared to December of last year.

The total assets of foreign banks amounted to 399 billion dirhams at the end of March of this year, an increase of 4.3 billion dirhams, a growth of 1.1% compared to December 2019.

At the level of total loans provided by national banks, they amounted to 1.574 trillion dirhams during the first quarter of this year, which constitutes 80.3% of the total loans provided by the banking system, while the value of foreign bank loans reached 194 billion dirhams, or 19.7%.

As for deposits, their value with national banks amounted to approximately 1.633 trillion dirhams, which constitutes 88.2% of the total balance of deposits with the banking system during the first quarter of the year 2020.

The value of deposits with foreign banks reached 219 billion dirhams, constituting 11.8% of the total deposits of the banking system in the UAE.

It is noteworthy that the number of banks operating in the UAE reached 59 banks, including 21 national banks, while the number of foreign banks reached 38 banks, according to the statistics of the Central Bank.

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