AED 2.268 billion of traditional banking assets in the UAE at the end of October

The value of assets of traditional banks operating in the UAE amounted to about AED 2,268 billion, or 80% of the total assets of the banking system at the end of October 2018, according to figures released yesterday by the UAE Central Bank in the activity report of banks classified between traditional and Islamic banks.

The analysis of the activity of traditional banks has shown their success by increasing their total assets of 125 billion dirhams during the first ten months of this year.

The total assets of Islamic banks amounted to AED 573 billion, or 20% of the total assets of the country's banking system in general, which amounted to MAD 2,841 billion at the end of October.

Total loans granted by conventional banks amounted to AED 1,274 billion at the end of October 2018, representing 77.3% of the total loans provided by the banking system, while the balance of loans from Islamic banks was Amounted to 374 billion dirhams, or 22.7%.

Deposits with conventional banks reached AED 1 321 billion, or nearly 77% of total bank deposits at the end of October.

In contrast, the value of deposits with Islamic banks amounted to about 400 billion dirhams, or 23% of the total deposits of the country's banking system in general.