Banks inject $ 37 billion into the private sector in 9 months

Banks operating in the country injected AED 37.1 billion into the private sector in the first nine months of this year to continue strong growth.

The latest data from the Central Bank showed yesterday that private sector lending to domestic and foreign banks operating in the country had risen from 1.55 billion dirhams at the end of December to 1.124 billion dirhams and 7 million AEDs. at the end of September, an increase of 37.1 billion AED, or 3.35%. .

Funding

Domestic banks recorded the largest increase in loans to the private sector, rising from AED 967 billion to A $ 3 billion and AED 293 million, an increase of CHF 36 billion and DH 293 million, an increase of 3.7%. Foreign banks also increased their private sector financing by AED 138 billion. AED 138.8 billion, an increase of AED 800 million or 5.7%.

Banks operating in the country have injected AED 6.8 billion into the real estate and construction sectors in the first nine months of this year.

The central bank figures show that banks increased their financing in the real estate and construction sector, from AED 298.1 billion at the end of December 2017 to AED 304.98 billion at the end of last September, an increase of AED 6.8 billion or 2.3%.

Statistics The Central Bank of the United Arab Emirates (CBE) confirmed that banks had increased the value of their financing in the real estate sector from 299.4 billion AED at the end of December to 234 billion AED at the end of September, an increase of 4, AED 6 billion and 2% of financing of the construction sector from AED 68.6 billion to AED 70.9 billion. End of September, an increase of 2.3 billion dirhams, or 3.3%.

Statistics show that banks increased their financing in the merchant sector, from 152.7 billion dirhams to 154.8 billion dirhams, an increase of 2.1 billion dirhams and 1.4 percent the first nine months of this year.

Personal loans for consumption increased in the first nine months of the year, from AED 326.6 billion to AED 329.9 billion at the end of September, reaching AED 3.3 billion and 1%. Personal loans for commercial purposes increased from AED 79.9 billion at the end of December 2017 to AED 83.9 billion at the end of September, MAD 4 billion per 5%.