The assets of banking institutions in the United Arab Emirates increased by 11.9% or 485 billion dirhams compared to 4.075 trillion dirhams at the end of December 2023. Also, the total volume of credit grew by 0.8% from 2.163 trillion dirhams at the end of November 2024 to 2.181 trillion dirhams at the end of December 2024.
Musharraf Al-Awani, the governor of the Central Bank of the UAE, reported on the monetary and credit situation for December 2024, noting the growth of total banking assets, including bank securities, by 2.4% from 4.451 trillion dirhams at the end of November 2024 to 4.560 trillion dirhams at the end of December 2024.
For the year, the volume of loans increased by 9.54% or an equivalent of 190 billion dirhams.
