Abu Dhabi, UAE – Saving deposits in the UAE banking system, excluding interbank deposits, increased to AED245.867 billion ($67 billion) by the end of December 2022, a YoY growth of AED4.00 billion ($1.08 billion), or 1.7 percent, from about AED241.82 billion ($66 billion) in November 2021, statistics by the Central Bank of the UAE revealed.
Savings deposits in banks have increased remarkably over the recent years, from AED152 billion ($41 billion) at the close of 2018 to AED172.2 billion ($47 billion) in 2019 and to AED215.2 billion ($58 billion) in 2020, according to the apex bank statistics.
Demand deposits grew to AED907.35 billion ($246 billion) by the end of December last year, a YoY growth of 7 percent from AED533.57 billion ($145 billion) in 2021, the statistics revealed.
The total investments of banks operating in the country reached AED528 billion in 2022, representing an 11.5 percent annual increase or AED54.5 billion compared to the same period in the previous year, when the total investments were AED473.2 billion.
The investments of the UAE banks also rose by 3.25 percent or AED16.6 billion on a monthly basis, increasing from AED511.1 billion in November 2022 to AED527.7 billion in December 2022.