Tuesday 25 October 2022 – 9:02
ABU DHABI, 25 October / WAM / The volume of credit loans granted by national banks to the trade and industry sectors in the country increased by 33.9 billion dirhams in 12 months, according to statistics from the Central Bank of the Emirates.
Statistics showed that the cumulative balance of credit provided by domestic banks to the trade and industry sectors amounted to AED 717.3 billion at the end of last August, compared to approximately AED 683.4 billion in August 2021, with a 5% increase.
According to statistics, the cumulative balance of credit provided by domestic banks to the trade and industry sectors during the first eight months of this year increased by approximately Dh33.7 billion, or 4.9%, compared to approximately 683.6 billion dirhams in December 2021.
The volume of credit granted by national banks to the trade and industry sectors in the country is equivalent to 89.6% of the total cumulative balance of credit granted to the two sectors, which at the end of last August amounted to 800.6 billion. AED, while the share of foreign banks was approximately 10.4%, with a value of 83.3 billion dirhams.
According to Central Bank statistics, the cumulative balance of credit provided by national banks in the Emirate of Dubai to the commerce and industry sectors amounted to about 355.5 billion dirhams at the end of last August, while it amounted to about 346. 5 billion dirhams for national banks in the Emirate of Abu Dhabi, and 98.6 billion dirhams for national banks in the other emirates. .
Conventional banks acquired around 662 billion dirhams, or 82.7% of the credit financing granted to the trade and industry sectors at the end of last August, while the share of Islamic banks stood at around 138. 6 billion dirhams, or 17.3%.
Dina Omar / Ramy Sameeh
