27-Feb-2013Country Risk Weekly Bulletin - Issue 297

Banking Sector Liquidity Improves in UAE

Figures issued by the Central Bank of the UAE show that total assets reached AED1,795.9bn at the end of November 2012, constituting an increase of 1.9% from the preceding month, a rise of 8.1% from end-2011, and a growth of 7.4% from end November 2011. Loans totaled AED1,107.3bn and rose by 0.4% from the preceding month and by 3.4% from end-2011. Total lending posted an annual growth of 3.1% with corporate loans and personal loans rising by 3% and 3.2% year-on-year, respectively. In parallel, aggregate deposits reached AED1,182.9bn at end November 2012, up by 1.8% month-on-month and by 8.7% from end-2011. Total Deposits grew by 12.3% year-on-year, driven by private sector deposits that increased by 10% from a year earlier. The loans-to-deposits ratio was 93.6% at end-November 2012 relative to 100.1% at the end of 2011 and 102% at the end of November 2011, which reflects improved liquidity in the banking system. Total investments by banks reached AED155.7bn at end-November 2012 and posted a 7% growth year-on-year, driven by increasing system liquidity and bond issuances.

To read the full article, visit the link below:

Country Risk Weekly Bulletin - Issue 297

 

Platinum Sponsors

 Logo
 Arab Bank Australia
 
       

Gold Sponsors

       
   
    

   
 Wainright Ryan Eid Lawyers      



EFIC - Export Finance and Insurance Corporation