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Banking & Finance, Economy, Video

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Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

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Assets of UAE banks rise despite pandemic

Bank UAE Growth
In Q2 2021, the UAE was home to 21 local, six GCC and 21 international banks. (File)
By TRENDS Desk
September 19, 2021 4:12 pm
  • Total customer deposits in the country’s banks between Q2 2020 and Q2 2021 witnessed 2.3 percent year-on-year growth reaching US$519.4 billion or AED1.908 trillion.
  • Personal loans to residents recorded 3.6 percent increase at US$92 billion or AED336.5 billion during the period

The UAE banking sector has posted a moderate growth of 0.6 percent with total assets reaching US$873.6 billion, or AED3.2 trillion, by the end of second quarter of 2021 year-on-year despite the headwinds of global pandemic.

As per the UAE Central Bank report, total customer deposits in the country’s banks between Q2 2020 and Q2 2021 witnessed 2.3 percent year-on-year growth reaching US$519.4 billion or AED1.908 trillion. Personal loans to residents recorded 3.6 percent increase at US$92 billion or AED336.5 billion between Q2 2020 and Q2 2021, according to the report.

In Q2 2021, the UAE was home to 21 local, six GCC and 21 international banks, it said.

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