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UAE gross bank assets amount to AED2.854 trillion

The UAE gross bank assets amounted to AED2.854 trillion by the end of November 2018, 6.00 percent up from AED2.694 trillion by the end of December 2017, according to Central Bank of UAE. Gross credit increased to around AED1.653 trillion by the end of November, a growth of 4.6 percent from AED1.58 trillion in December last year. Domestic loans received by the private sector rose from AED1.086 trillion in December 2017 to around AED1.132 trillion by the end of November, with retail loans amounting to AED338.6 billion by the end of November from AED337.5 billion from December last year.

Total deposits amounted to AED1.739 trillion in November, an increase of 7 percent of AED112 billion from AED1.627 trillion in December 2017.

Residents' deposits amounted to AED1.535 trillion, government deposits to AED303.5 billion, and non-residents' deposits to AED203.3 billion.

The ratio of total banks' eligible liquid assets- which consist of cash in hand, liquid assets at CBUAE and eligible bonds/sukuks as prescribed by regulation 33/2015 & Basel Principles but excludes interbank positions- hit 17% to total assets.

The growth recorded in gross credit reflects the robust financial solvency enjoyed by UAE banks as a result of the significant improvement recorded across all operating indicators during the first 11 months of the year.

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