UAE – Mubasher: Total domestic credit of banks in the UAE, including national and foreign banks, reached AED 1.550 trillion during the first seven months of 2019, compared to AED 1.509 trillion at the end of December 2018, according to the Central Bank of the UAE’s (CBUAE) monthly statistical bulletin.
“Domestic Credit accounts for 91% share of the total credit portfolio of the banks as at the end of July 2019,” the report showed.
Month-on-month, domestic credit edged up by 0.5% at the end of July 2019, on the back of an increase in credit to both the government and the public sectors by 2.4%.
Domestic credit provided by banks to the government grew to AED 206.4 billion at the end of July, compared to AED 191.498 billion at the end of 2018, the report added.
Moreover, the banks have provided the public sector with AED 180.58 billion in domestic credit at the end of July, versus AED 167.921 billion at the end of December 2018.
Meanwhile, domestic credit to the private sector stood at around AED 1.163 trillion at the end of July, compared to AED 1.150 as at 31 December 2018, the report highlighted.
