Abu Dhabi – Mubasher: The assets of the national banks in the UAE grew by 9.5% or AED 197 billion ($53.64 billion) to reach AED 2.289 trillion ($620 billion) by the end of April 2017, up from AED 2.093 trillion in the year-ago-period, according to data released by the Central Bank of the UAE.
Meanwhile, foreign banks’ assets fell 6.5% year-on-year to AED 372.2 billion by the end April.
Credit provided by UAE national banks surged 7.6% to reach AED 1.405 trillion by the end of last month, whereas credit from the foreign banks declined 9.3% to reach AED 190.5 billion.
The UAE’s banking sector includes 23 national banks as well as 35 foreign ones operating within the UAE.
