UAE banks' loans hit $484bln in December

The loans granted by the UAE banks rose by 1%

  
United Arab Emirates Dirham.Image used for illustrative purpose.

United Arab Emirates Dirham.Image used for illustrative purpose.

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UAE - Mubasher: The loans granted by the UAE banks rose by 1% to AED 1.779 trillion by the end of December 2020, compared to around AED 1.758 trillion in the year-ago period.

The UAE banks have decreased their loans provided to the private sector by 2% to AED 1.1 trillion by the end of December 2020 from AED 1.134 trillion in the same period of 2019, according to the latest statistics by the Central Bank of the UAE (CBUAE).

Meanwhile, the public sector has received AED 251.9 billion loans from the UAE banks by the end of December 2020, down 2% in the corresponding period of 2019.

Source: Mubasher

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