Abu Dhabi – Mubasher: Assets owned by the UAE's banks rose 3.9% or by around AED 83 billion ($22.60 billion) in the first 10 months of 2016.
The value of assets reached AED 2.171 trillion ($590 billion) during the period from AED 2.088 trillion ($570 billion) by the end of December 2015, according to data released by the Central Bank of the UAE.
Statistics showed that foreign banks' assets fell 4.2% during the 10-month period this year to AED 373.2 billion.
The volume of credit provided by the UAE's national banks grew 0.6% during the period to AED 1.373 trillion, whereas credit provided by foreign banks dropped 5.9% to AED 200.9 billion.
The UAE's banking sector includes 23 local banks, alongside 35 foreign ones operating across the country.
