UAE bank deposits went up by 2.1% in three months

The resident deposits increased by 2.7%

  
Image used for illustrative purpose. A customer makes a transaction at a bank in Dubai.

Image used for illustrative purpose. A customer makes a transaction at a bank in Dubai.

REUTERS/Mohammed Salem

UAE – Mubasher: Bank deposits in the UAE rose by 2.1% or AED 37.1 billion to AED 1.865 trillion from March to May, compared to AED 1.828 trillion in February.

The resident deposits increased by 2.7% or AED 43.1 billion to AED 1.662 trillion from March to May from AED 1.619 trillion in February, according to the latest data by the Central Bank of the UAE (CBUAE).

Meanwhile, the non-resident deposits declined by AED 5.7 billion to AED 202.9 billion by the end of May, versus AED 208.6 billion in February.

The resident deposits at the national banks reached AED 1.319 trillion, accounting for 86% of the total resident deposits.

Source: Mubasher

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