In the first half of the current year, the total volume of financing by national banks for the private sector amounted to about 63.2 billion dirhams, which brought their accumulated overall balance to 1.195 trillion dirhams by the end of June, compared to 1.132 trillion dirhams by the end of December 2023, indicating a growth of 5.6%, according to the statistics of the Central Bank of the UAE.
Thus, financing by national banks for the private sector increased by 1.16% or 13.7 billion dirhams month-on-month, and year-on-year it grew by 7.3% or 81.2 billion dirhams. According to the Central Bank, national banks control about 91.5% of the total portfolio of loans from banks operating in the country for the private sector, which amounts to about 1.3 trillion dirhams by the end of June, while the share of foreign banks is about 8.5%.
Financing from foreign banks for the private sector increased to 111 billion dirhams by the end of June compared to 107.5 billion dirhams in June 2023, which shows an increase of 3.26% or 3.5 billion dirhams. For the first half of the current year, financing from foreign banks for the private sector increased by 2.8% or 3 billion dirhams.
