Assets of UAE banks rise despite pandemic

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Bank UAE Growth
In Q2 2021, the UAE was home to 21 local, six GCC and 21 international banks. (File)
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  • 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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