Abu Dhabi – Mubasher: Assets owned by the UAE’s national banks increased by 7.04% in 2016 or by around AED 147 billion ($40.03 billion), according to recent statistics released by the Central Bank of the UAE.
Assets reached AED 2.235 trillion by the end of December 2016, compared to AED 2.088 trillion by the end of December 2015.
Meanwhile, foreign banks’ assets fell 3.6% to AED 375.3 billion by the end of December of last year.
Statistics also showed that credit provided by national banks grew 8.08% to AED 1.378 trillion between December 2015 and 2016, while credit provided by foreign banks fell 6.8% to AED 195.1 billion during the same period.
The UAE’s banking sector included 23 national banks, alongside 35 foreign ones operating in the country, according to previous data by the central bank.
