Dh16.5b credit facilities planned for businesses

The UAE national banks provided Dh713 billion to the two sectors during Q1 as compared to Dh700 billion during last quarter of 2019.
The UAE national banks provided Dh713 billion to the two sectors during Q1 as compared to Dh700 billion during last quarter of 2019.

The credit facilities provided by the UAE national banks to the two sectors stand at Dh13 billion.



UAE banks provided Dh16.5 billion in loans in first quarter of 2020 to the industrial and business sectors, bringing to circa Dh818.8 billion the total credit facilities obtained by the two sectors during the period from January to March 2020, compared to Dh802.2 billion in the last quarter of 2019, according to statistics revealed by the Central Bank of the UAE.
According to apex bank's figures, the credit facilities provided by the UAE national banks to the two sectors stand at Dh13 billion, accounting for 79 per cent of total facilities provided by all UAE-based banks to the two sectors during January-March quarter.
This accounts for 55 percent of the total loans provided by UAE banks to all business activities performed by the private sector during the reference period.
The UAE national banks provided Dh713 billion to the two sectors during Q1 as compared to Dh700 billion during last quarter of 2019. - Wam


More news from Business
In-store shopping regains trust

Business

In-store shopping regains trust

What is happening now is that as Covid-19 cases continue to decline, residents are regaining confidence in in-store shopping. This is according to a Kearney study in which UAE respondents cite convenience (51 per cent), enhanced shopping experience (49 per cent) and competitive pricing (44 per cent) as the main motivators driving them back to brick and mortar stores

Business2 days ago