Dubai banks pump 20 billion into the arteries of the economy-economy-financial markets

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The Emirates Central Bank revealed yesterday that Dubai banks pumped about 20 billion dirhams into the arteries of the emirate’s economy during the first four months of the year, and according to statistics of banking indicators for last April, the bank lending balance of Dubai banks reached 885.6 billion at the end of April, compared to 865.9 billion at the end of last December. , An increase of 19.7 billion and a growth of 2.3%.

The private sector accounted for the largest percentage of loans for the first four months of 2020, when its share reached 10.5 billion, and the total balance of bank lending to the private sector in Dubai increased from 517.5 billion at the end of December 2019 to 528 billion by the end of April 2020, an increase of 2%, and Dubai banks hold 46 % Of the total bank lending to the private sector in the country, which amounted to one trillion and 140.8 billion, while Abu Dhabi accounted for 41.9% and the northern emirates at 11.77%.

The total loans that Dubai banks pumped into the business and industry sector increased to 392.3 billion at the end of April, compared to 378.2 billion at the end of December, an increase of 14.1 billion and a growth of 3.7%, while personal loans declined to 135.7 billion at the end of April, compared to 139.3 billion at the end of December. Lending to non-resident foreigners also decreased to 67.6 billion, compared to 81.4 billion at the end of December 2019.

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