Monday, January 23, 2023 – 9:59 am
ABU DHABI, January 23 / WAM / The volume of credit financing granted by national banks to the trade and industry sectors in the country increased by about 38.1 billion dirhams during the first ten months of last year 2022, according to the latest statistics of the UAE Central Bank.
The statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors reached 721.7 billion dirhams at the end of last October, compared to about 683.6 billion dirhams in December 2021, an increase of 5.6%.
According to the statistics, the cumulative balance of credit provided by national banks to the trade and industry sectors increased on an annual basis by 5.54% compared to about 683.8 billion dirhams in October 2021, while it increased on a monthly basis by 0.12% compared to 720.8 billion dirhams in September 2022.
The volume of credit financing granted by national banks to the trade and industry sectors in the country is equivalent to 89.7% of the total cumulative balance of credit granted to the two sectors, amounting to 804.6 billion dirhams at the end of last October, while the share of foreign banks amounted to about 10.3%, with a value of 82.9 billion dirhams.
According to Central Bank statistics, the cumulative balance of credit provided by banks in the Emirate of Dubai to the trade and industry sectors amounted to about 355.2 billion dirhams at the end of last October, while it amounted to about 350.4 billion dirhams for banks in the Emirate of Abu Dhabi, and 99 billion dirhams for banks in other emirates.
Conventional banks acquired about 665.8 billion dirhams, or 82.7% of the credit financing granted to the trade and industry sectors at the end of last October, while the share of Islamic banks amounted to 138.8 billion dirhams, or 17.3%.
Dina Omar / Ramy Samih
