Emirates News Agency – 1.38 trillion dirhams, “more than 20 million” deposits in UAE banks

ABU DHABI, 24th August / WAM / Large deposits (above 20 million dirhams) are the largest volume of total deposits in the country’s banking sector at 2.381 trillion dirhams in the first half of 2023. , according to figures from the Central Bank of the United Arab Emirates.

Central bank statistics show that deposits of more than 20 million dirhams amounted to about 1.38 trillion dirhams at the end of last June, equivalent to 58.1% of the total deposits of the country’s banking sector, an increase of 25.7% compared to about 1.101. trillion dirhams by the end of June 2022.

According to statistics; Deposits between 5 million and 20 million accounted for about 288.3 billion dirhams or 12.1% of total deposits, an increase of 21.55% compared to 237.21 billion dirhams in June 2022.

Deposits of more than one million and up to 5 million accounted for about 13.3% of the total, 316.94 billion dirhams at the end of last June, compared to 242.98 billion dirhams in June 2022, an increase of 30.4%.

The bank said that income from deposits between 500 thousand and one million dirhams was 121.4 billion dirhams, or 5.1% of total deposits at the end of the first half, an increase of 28.6% compared to about 94.4 billion dirhams. In June 2022.

The share of deposits was between 250,000 and 500,000, about 4% or equivalent to 95.4 billion dirhams, reaching 7.3% growth last June, compared to 88.9 billion dirhams in June 2022.

The central bank indicated that the share of deposits between zero and 250 thousand dirhams was about 7.4% of the total deposits of the country’s banking sector, or an increase of 22.4%, equivalent to 176.3 billion dirhams at the end of last December. % compared to about 144.08 billion dirhams in June 2022.