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Business, Banking & Finance, Economy

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

‘Credit by national banks rose to US$3.5bn till April 2022’

The Central Bank of the UAE (CBUAE) announced its decision to keep the Base Rate for the Overnight Deposit Facility (ODF) unchanged at 5.40 percent. (CBUAE)
By TRENDS Desk
July 30, 2022 6:54 pm
  • The cumulative balance of credit provided by national banks to the sector on a year-on-year basis grew by 2.14 percent.
  • Value of credit facilities extended by national banks to the sector accounted for 89.1% of gross accumulative credit balance.

Credit facilities provided by national banks to the business and industrial sector rose 1.92 percent to US$3.5 billion (AED13.1 billion) in the first four months of 2022.

Total amount of credit facilities now stands at $189.7 billion (AED 696.7 billion) from $186.1 billion (AED683.6 billion) in the corresponding period in 2021, the Central Bank of the United Arab Emirates (CBUAE) said.

The cumulative balance of credit provided by national banks to the sector on a year-on-year basis grew by 2.14 percent or $3.9 billion (AED 14.6 billion).

The value of credit facilities extended by national banks to the sector accounted for 89.1 percent of the gross accumulative credit balance.

It reached AED 782.5 billion by the end of last April, while the share of foreign banks stood at 10.9 percent or AED 85.8 billion.

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