Abu Dhabi – Mubasher: The assets of national banks in the UAE rose 3.11% year-on-year or AED 69.8 billion in the first five months of 2017, according to data released on Wednesday by the Central Bank of the UAE.
Total assets amounted to EGP 2.308 trillion in the January-May period of 2017, compared to AED 2.238 trillion in the same period of 2016.
Meanwhile, assets of foreign banks declined in the five-month period by 0.69% to AED 377.9 billion, versus AED 375.3 billion in the same period last year.
Credit provided by UAE national banks reached AED 1.410 trillion by the end of May 2017, rising 2.28% year-on-year. Credit provided by foreign banks shrank 3.52% year-on-year to AED 189.3 billion.
The UAE banking sector includes 23 local banks and 35 foreign banks operating in the country.
