Abu Dhabi – Mubasher: The total value of loans provided by banks operating in the UAE to the commercial and industrial sectors rose 3.4%, or AED 25.6 billion, to AED 774.5 billion by the end of May, compared to AED 748.9 billion in December 2017.

The credit facilities of the commercial and industrial activities represented about 48% of the total bank lending to all sectors by the end of the fifth month of this year, Emirates News Agency (WAM), reported, citing the Central Bank of the UAE’s (CBUAE) data.

In the first quarter of 2018, the two sectors obtained around AED 15.3 billion in loans, the data showed.

Bank lending to the GCC nation’s commercial and industrial activities in the January-May period of this year equaled about 80% of total loans given to the two sectors over the course of the previous year, which registered AED 20.5 billion.

Source: Mubasher

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