$5.36bln in credit facilities to UAE's non-resident clients in 11 months

The growth accounts for 8.3% of the total loans providers by UAE banks in the reference period

  
General view of Central Bank of The U.A.E. on January 3, 2017 in Dubai, United Arab Emirates.

General view of Central Bank of The U.A.E. on January 3, 2017 in Dubai, United Arab Emirates.

Getty Images

ABU DHABI - Credit facilities provided by UAE national banks to non-resident clients rose by AED19.7 bn from January to November 2020, statistics by the Central Bank of the United Arab Emirates have shown.

The growth brings to AED149 bn the cumulative balance of bank loans to non-residents, which accounts for 8.3 percent of the total loans provided by UAE banks in the reference period- estimated at AED1.795 trillion, according to the apex bank's figures.

UAE’s loan growth and liquidity picking up pace is reflective of the country's robust financial profile despite the global economic slowdown triggered by the COVID-19 pandemic.

© Copyright Emirates News Agency (WAM) 2021.

More From Financial Services