Banks in UAE provide 4% higher loans in November

Loans granted to the government amounted to $69.42bln by the end of last November, a yearly increase of 14%

  
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

Abu Dhabi –  Loans provided from Emirati banks grew by 4% on an annual basis in November 2020 to AED 1795.3 billion, as shown by data from the Central Bank of the UAE (CBUAE).

On the contrary, loans provided by the UAE banks to the private sector declined by 2% in November 2020, reaching AED 1118 billion, compared with AED 1141.2 billion in the same month a year earlier.

In the meantime, loans granted to the government amounted to AED 254.8 billion by the end of last November, a yearly increase of 14%.

Source: Mubasher

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