UAE banks’ loans hit AED 1.8trn in September

UAE banks’ loans hit AED 1.8trn in September

23 November 2020 09:29 AM





























UAE - Mubasher: The value of loans granted by UAE banks increased by 5% to AED 1.8 trillion by the end of September 2020, compared to around AED 1.7 trillion in the same month of 2019.





The loans provided to the private sector decreased by 2.5% to AED 1.12 trillion in September 2020 from 1.15 trillion in the year-ago period, according to the latest data by the Central Bank of the UAE (CBUAE).





Meanwhile, UAE banks have raised the credit facilities granted to the public sector by 16% to AED 255.5 billion by the end of September 2020, when compared to the same month of the previous year.





It is noteworthy to mention that in September, the investments of the UAE banks in debt securities rose by 12.2% to AED 279 billion, compared to AED 248.6 billion in the same month of 2019.