National banks’ financing of trade, industry sectors totalled Dh37.2 billion in 9 months

The statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors reached Dh720.8 billion at the end of August, compared to some Dh683.6 billion in December 2021, a rise of 5.44 per cent

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The credit financing granted by national banks to the trade and industry sectors is equivalent to 89.5 per cent of the total cumulative balance of credit granted to the two sectors, amounting to Dh805.1 billion at the end of September.
The credit financing granted by national banks to the trade and industry sectors is equivalent to 89.5 per cent of the total cumulative balance of credit granted to the two sectors, amounting to Dh805.1 billion at the end of September.

Published: Tue 20 Dec 2022, 8:12 PM

Last updated: Wed 21 Dec 2022, 12:41 PM

Credit financing provided by national banks to the trade and industry sectors totalled Dh37.2 billion in the first nine months of 2022, according to recent data issued by the Central Bank of the UAE (CBUAE).

The statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors reached Dh720.8 billion at the end of August, compared to some Dh683.6 billion in December 2021, a rise of 5.44 per cent.


According to the central bank’s data, the cumulative balance of credit provided by national banks to the two sectors increased annually by 4.83 per cent compared to Dh687.6 billion in September 2021 while it increased on a monthly basis by 0.56 per cent compared to Dh717.3 billion in August 2021.

The credit financing granted by national banks to the trade and industry sectors is equivalent to 89.5 per cent of the total cumulative balance of credit granted to the two sectors, amounting to Dh805.1 billion at the end of September while the share of foreign banks amounted to some 10.5 per cent, valued at Dh84.3 billion.


According to the central bank’s statistics, the cumulative balance of credit provided by national banks in Dubai to trade, and industry sectors amounted to some Dh354.8 billion at the end of September while this figure was Dh350.6 billion in Abu Dhabi, and Dh99.7 billion for other emirates.

Conventional banks accounted for some Dh666.6 billion or 82.8 per cent of the credit financing granted to the two sectors at the end of September, while the share of Islamic banks was around Dh138.5 billion or 17.2 per cent. — Wam


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