Abu Dhabi (WAM)
Savings deposits in the banking sector in the country – excluding interbank deposits – increased to 246.47 billion dirhams at the end of last October, an annual increase of about 9.93 billion dirhams, or 4.2%, compared to about 236.54 billion dirhams in October 2021, according to the latest statistics of the UAE Central Bank.
The statistics showed that savings deposits increased during the first ten months of last year by 1.93% compared to about 241.82 billion dirhams at the end of 2021, an increase equivalent to 4.66 billion dirhams, while they increased on a monthly basis by 0.88% compared to about 244.3 billion dirhams in September 2022.
Central Bank statistics showed that demand deposits rose to 918.97 billion dirhams at the end of last October, with an annual growth of 14.7%, compared to 801.31 billion dirhams in October 2021, an increase equivalent to 117.7 billion dirhams. Demand deposits increased during the first ten months of last year by 8.4%, or the equivalent of 70.93 billion dirhams, compared to 848.04 billion dirhams at the end of 2021, while they decreased on a monthly basis by 0.54%, compared to 923.96 billion dirhams in September 2022.
According to the Central Bank’s bulletin, time deposits reached 559.02 billion dirhams at the end of last October, an increase on an annual basis of 5.61%, compared to about 529.32 billion dirhams in October 2021, while they increased during the first ten months of last year by about 4.8%, compared to 533.57 billion dirhams at the end of the year. 2021.
