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Friday 27-01-2023 22:22 pm
ABU DHABI, 27th January, 2023 (WAM) — Savings deposits, excluding interbank deposits, in the UAE banking system rose to AED246.61 billion at the end of November last year, an increase of approximately AED7.21 billion, or the UAE Central Bank. Statistics from the bank show a 3% increase from about AED 239.4 billion in November 2021.
Savings deposits increased by 1.98% in the first 11 months of 2022, compared to approximately AED 241.82 billion at the end of 2021, an increase equivalent to AED 4.8 billion. On a monthly basis, they increased by 0.06% compared to about AED 246.48 billion in October 2022, according to statistics from the Supreme Bank.
At the end of November last year, demand deposits increased by AED 820.83 billion, or 82.5%, to AED 903.36 billion, representing an annual growth rate of 10.1%.
Sight deposits rose by 6.5 percent to AED55.3 billion in the first 11 months of last year, compared to AED848.04 billion at the end of 2022. However, they are down 1.7% per month compared to AED 918. 97 billion in October 2022.
Fixed deposits rose 17 percent annually to AED599.81 billion at the end of November last year, up from AED513.16 billion in November 2021.
Hatem Mohammad / Khoder Nashar
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