Friday, March 3, 2023 – 11:32 am
ABU DHABI, 3rd March / WAM / Savings deposits in the banking sector in the country – excluding interbank deposits – increased to 245.867 billion dirhams at the end of last December, an annual increase of about 4 billion dirhams, or 1.7%, compared to about 241.82 billion dirhams in December 2021. According to the latest statistics of the UAE Central Bank.
Central Bank statistics showed that savings deposits in banks witnessed a remarkable growth over the past years, increasing from 152 billion dirhams at the end of 2018 to 172.2 million dirhams in 2019 and 215.2 billion dirhams in 2020.
The statistics showed that demand deposits rose to 907.35 billion dirhams at the end of last December, with an annual growth rate of 7%, compared to 848.04 billion dirhams in December 2021, an increase equivalent to 59.3 billion dirhams, while it increased on a monthly basis by about 0.44% compared to 903.36 billion dirhams in November. 2022.
Demand deposits continued to grow over the past years, increasing from 577.6 billion dirhams at the end of 2018 to 599.6 billion dirhams at the end of 2019 and 696.8 billion dirhams at the end of 2020.
According to the Central Bank’s bulletin, time deposits reached 613.02 billion dirhams at the end of last December, an increase of 15% on an annual basis, compared to about 533.57 billion dirhams in December 2021.
Time deposits increased on a monthly basis by 2.2%, or the equivalent of 13.2 billion dirhams, compared to 559.82 billion dirhams in November 2022.
Ahmed Al Botli / Ramy Samih