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Savings deposits in UAE banks reach AED246.6 bn by end-November 2022

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UAE Bank Savings Deposits November 2022

Savings deposits (excluding interbank deposits) in the UAE banking system rose to AED246.61 billion at the end of November last year, the state news agency reported. Wan.

This represents an increase of approximately AED7.21 billion, or 3%, from approximately AED239.4 billion in November 2021, according to statistics shared by the Central Bank of the UAE (CBUAE).

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. According to statistics from the Supreme Bank, they have increased by 0.06% per month compared to about AED 246.48 billion in October 2022.

Sight deposits increased by AED820.83 billion, or 82.5 percent, to AED903.36 billion at the end of November last year, representing an annual growth rate of 10.1 percent. Wan Report.

Sight deposits rose by 6.5 percent in the first 11 months of last year, equivalent to AED55.3 billion, compared to AED848.04 billion at the end of 2020. 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.

Total bank assets rise in November 2022

In the latest news, the CBUAE announced that total bank assets including banker’s acceptances increased by 0.7% from Dhs3.615tn at end-October 2022 to Dhs3.639tn at end-November 2022. According to the November summary report on monetary and banking developments published in the CBUAE, total credit increased by 0.5% from approximately Dhs1.878tn by end-October 2022 to approximately Dhs1.887tn by end-November 2022.

according to Wan, Total bank deposits increased by 1.6%, from approximately Dhs2.204tn at the end of October 2022 to approximately Dhs2.239tn at the end of November 2022. The increase was due to a 2.5% rise in resident deposits, which more than outweighed a 6.2% drop in non-resident deposits. The increase in deposits was due to increases in government sector deposits, public sector (government-related entity) deposits, private sector deposits and non-bank financial institution deposits which rose by 0.6%, 9.8%, 2.0% and 1.3%, respectively.

In October, the CBUAE said total bank assets including banker’s acceptances rose 0.9 per cent to Dhs3.615tn at the end of October 2022 from Dhs3.583tn at the end of September.

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