Monday 24, September 2018 by Kudakwashe

UAE gross bank assets surge to AED 2.8 trillion in August


The growth recorded in gross credit reflects the robust financial solvency as a result of the significant improvement recorded across all operating indicators since the beginning of the year.

The UAE gross bank assets amounted to AED 2.8 trillion in August 2018, a four per cent increase from AED 2.7 trillion in December 2017.

Gross credit increased by 3.3 per cent to around AED 1.63 trillion in August, compared to AED 1.58 trillion during December last year.

Domestic loans received by the private sector rose from AED 1.09 trillion in December 2017 to around AED 1.12 trillion in August, while the credit provided to individuals amounted to AED 339 billion in August from AED 337 billion in December 2017, according to local newswire, WAM.

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