Total bank investments climbed to a high of AED 664.4 bn at the end of March, up from AED 548.5 bn at the end of 2023, according to the Central Bank of the UAE’s (CBUAE) banking indicators (pdf). Conventional banks contributed AED 519.6 bn, while Islamic banks’ share amounted to AED 144.8 bn, according to the data. Of the total, national banks booked a total of AED 616 bn, while foreign banks invested some AED 48.1 bn, according to the latest statistics (pdf).

ICYM- Gross credit handed out by UAE banks grew to AED 2.014 tn, according to earlier data . Banks’ assets also grew to a record AED 4.255 tn.

Domestic credit rose by 6.1% to AED 1.776 tn, with loans to the private sector accounting for the lion’s share of credit at AED 1.272 tn, posting a 6% growth from the previous year. Loans to the government, on the other hand, fell 12.1% y-o-y to AED 188.3 bn, while loans to government-related entities jumped 21.4% to AED 298 bn. Meanwhile, foreign credit jumped 21.8% y-o-y to AED 270.4 bn.

Conventional banks provided AED 1.611 tn in credit, while the share of Islamic banks was AED 435 bn, CBUAE data (pdf) showed. National banks issued loans totaling AED 1.88 tn, while foreign lenders handed out AED 166.7 bn of overall credit.

Deposits at banks also grew, with resident deposits rising 16% y-o-y to AED 2.436 tn, while non-resident deposits grew 3.5% y-o-y to AED 220.9 bn. The private sector once again accounted for the lion’s share of deposits, with a total of AED 1.713 tn.

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