|10 September, 2019

Three-year deposits at UAE banks hit $144.95bln in July

The central bank ascribed the increase in deposits to the increase in interest rates since the beginning of 2019

Image used for illustrative purpose. A customer makes a transaction at Emirates Bank in Dubai March 7, 2007.

Image used for illustrative purpose. A customer makes a transaction at Emirates Bank in Dubai March 7, 2007.

REUTERS/Mohammed Salem

Abu Dhabi –   Three-month deposits at the UAE banks increased by 6.2%, or AED 31.22 billion, year-on-year during July 2019.

Short-term deposits at UAE-based banks reached AED 532 billion in July, according to data released on Tuesday by the Central Bank of the UAE.

The central bank ascribed the increase in deposits to the increase in interest rates since the beginning of 2019.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.