Abu Dhabi – Mubasher: Bank deposits in UAE banks increased by 0.5 percent last July, by 10.9 billion dirhams, or the equivalent of 351.6 million dirhams per day.
A report issued by the UAE Central Bank indicated the growth of bank deposits in state banks during the first seven months of this year to reach 2.39 trillion dirhams, a growth of 7.7 percent.
The pace of new bank deposits in banks in the country also grew, within 12 months, by 12.2 percent, or by 260.1 billion dirhams, compared to July 2022.
Residents’ deposits increased by 0.9 percent, or by 19 billion dirhams, during last July, or the equivalent of 612.90 million dirhams per day, to reach 2.19 trillion dirhams.
Resident deposits also increased over 7 months by 9 percent, or by 180.3 billion dirhams, and on an annual basis, they increased by 16.7 percent, or by 57.1 billion dirhams.
Government deposits increased by 2.7 percent, equivalent to 11.6 billion dirhams, during last July, reaching 437.3 billion dirhams.
It also rose in 7 months, by 10.2 percent, equivalent to 40.5 billion dirhams, compared to 431.2 billion dirhams at the end of December 2022, and on an annual basis, it jumped by 20.8 percent, equivalent to 75.20 billion dirhams.
Public sector deposits jumped by 1.2 percent, equivalent to 2.60 during July 2023, to reach 216.6 billion dirhams, while they declined in 7 months, by 0.1 percent (300 million dirhams), compared to 216.9 billion dirhams in December 2022.
Public sector deposits declined on an annual basis, by 2 percent, equivalent to 4.50 billion dirhams, compared to 221.1 billion dirhams in July 2022.
Private sector deposits increased by 0.9 percent, equivalent to 12.80 billion dirhams, to reach 1.481 trillion dirhams, and they also increased in 7 months by 10.7 percent, equivalent to 144.90 billion dirhams.
Private sector deposits also increased on an annual basis by 18.9 percent, equivalent to 237.70 billion dirhams, compared to 1.256 trillion dirhams in July 2022.
Deposits of non-banking financial institutions decreased by 16.1 percent, equivalent to 8 billion dirhams, to reach 41.7 billion dirhams. They also declined in 7 months by 10.3 percent, or 4.80 billion dirhams.
On an annual basis, deposits of non-banking financial institutions increased by 13.6 percent, equivalent to 5 billion dirhams, compared to 36.7 billion dirhams at the end of July 2022.
While non-resident deposits declined by 3.8 percent, equivalent to 8.10 billion dirhams, to reach 203 billion dirhams in July 2023, compared to 211.1 billion dirhams in June 2023, and declined within 7 months by 4.5 percent, equivalent to 9.50 billion dirhams.
Non-resident deposits also declined on an annual basis, by 20.8 percent, equivalent to 53.3 billion dirhams, compared to 256.3 billion dirhams at the end of July 2022.
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