Banking loans in UAE up 4% in June

Loans provided to the private sector increased by 3% last month

  
United Arab Emirates Currency - Dirhams. Dubai, United Arab Emirates. Image used for illustrative purpose.

United Arab Emirates Currency - Dirhams. Dubai, United Arab Emirates. Image used for illustrative purpose.

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Abu Dhabi - Mubasher: Total loans provided by Emirati banks to both public and private sectors grew by 4% year-on-year or AED 70.4 billion at the end of June 2019, according to a report by the Central Bank of the UAE (CBUAE).

The loans valued at AED 1692.7 billion at the end of June 2019, compared to AED 1622.3 billion in the year-ago period, the report highlighted.

Loans provided to the private sector increased by 3% last month, reaching AED 1147.8 billion, versus AED 1117.4 billion at the end of June 2018.

Meanwhile, national banks have granted the government and the public sector around AED 201.6 billion in financing at the end of June 2019, up 12% from AED 180.8 billion in the same period of 2018.

Source: Mubasher

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