UAE Central Bank’s total assets up 2% to $886.23bln by end of Q3-2020

SourceZawya
SectorFinancial Services
CountryUAE

ABU DHABI - At the end of the third quarter of 2020 total assets of banks operating in the UAE increased by 2% (q-o-q), reaching AED3,252.5 billion, the Central Bank of the United Arab Emirates said today.During the period between September 2019 and September 2020, the total assets of banks operating in the UAE increased by 7.6 pct (y-o-y). Gross credit also rose by 0.8 pct (q-o-q), reaching 1,804.6 billion at the end of September 2020. On an annual basis, gross credit increased by 4.9 pct, according to the apex bank's Q3 report issued today.The report discusses the monetary and banking activities as well as developments in the UAE financial markets during the third quarter of 2020. It also reviews ratios of annual change over the period from September 2019 to September 2020.At the end of the third quarter of 2020, total deposits of resident and non-resident customers with banks operating in the UAE rose by 2.2 pct (q-o-q), reaching AED1,907.2 billion.Resident deposits increased by 3 pct (q-o-q), reaching AED 1,715.9 billion at the end of the third quarter of 2020.

Nonresident deposits fell by 4.5 pct (q-o-q), reaching AED191.3 billion by the end of September 2020.On an annual basis, ...read more...