Dubai banks acquire for the first time 46.5% of bank deposits, with a total of 1.111 trillion dirhams.

For the first time, Dubai banks acquired 46.5% of the total bank deposits in the country’s banks, making them the largest share, with a total exceeding 1.111 trillion dirhams at the end of September 2023.

Data issued by the Central Bank showed that the volume of credit granted by the emirate’s banks has maintained its lead in the bank credit movement, with a share of 47% of the total domestic credit, amounting to more than 930 billion dirhams.

While the assets owned by the emirate’s banks rose to 1.777 trillion dirhams last September, while investments reached 243 billion dirhams.

On the other hand, the data showed that Abu Dhabi banks maintained their leading share of the total banking assets in the country, rising from 1.867 trillion dirhams, and investments reached 298 billion dirhams.

Deposits also reached 1.107 trillion dirhams, while credit increased to 884 billion dirhams in September 2023.

While other state banks attracted a share of 307 billion dirhams from banking assets, deposits rose to 203 billion dirhams, as well as credit to 168 billion dirhams, while investments reached 52.3 billion dirhams.