UAE – Mubasher: Dubai banks have injected AED 33.8 billion in the emirate's economy during the first six months of 2020, according to the latest statistics by the Central Bank of the UAE (CBUAE).
By the end of June, Dubai banks' lending rose by 3.9% or AED 33.8 billion to around AED 899.7 billion, compared to AED 865.9 billion in December 2019.
Dubai banks accounted for 50.2% of the total credit worth AED 1.791 trillion in June.
The banks' loans provided to the private sector in Dubai recorded AED 527.2 billion by the end of June, up 1.8% from AED 517.5 billion in December 2019.
Meanwhile, the personal loans offered by Dubai banks declined to AED 135.4 billion by the end of June from AED 139.3 billion in December.
It is noteworthy to mention that in June 2020, the loans granted by the UAE banks grew by 6% to AED 1.79 trillion, compared to around AED 1.69 trillion during the same month of 2019.
