US Dollar accounts make up 83.2% of foreign currency loans in Emirati banks

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ABU DHABI - According to statistics from the UAE Central Bank, US Dollar accounts made up 83.2 percent of foreign currency loans in Emirati banks in the first quarter of 2019.

Euro accounts occupied the second position, accounting for 9.5 percent while UK Pound accounts accounted for 2.1 percent, Japanese Yen accounts for 1.3 percent, Saudi Riyal accounts for 1.2 percent, Bahraini Dinar accounts for 0.3 percent, Chinese Yuan accounts for 0.2 percent, Kuwaiti Dinar accounts for 0.2 percent, Swiss Franc accounts for 0.1 percent, and all other foreign accounts for 1.7 percent.

The value of foreign assets in national banks also increased on quarterly and annual bases at the end of the first quarter of 2019. Asset classes are divided into securities with an outstanding value of AED182.6 billion, assets expected from other banks worth AED130.5 billion, and loans worth AED117.1 billion. The three categories rose on a quarterly basis by 2.22 percent, 8.1 percent and 0.3 percent, respectively, and by 31.6 percent, 7 percent and 10.9 percent year-on-year, respectively.