E-Paper
Sign In
UAE banks' assets rise to Dh5.63 trillion in May as lending expands
The increase was driven by a Dh13.8 billion rise in domestic credit, while foreign credit weighed on overall growth, declining by 0.1 percentage points to Dh562.5 billion
- PUBLISHED: Tue 28 Jul 2026, 4:27 PM UPDATED: Tue 28 Jul 2026, 4:43 PM
Gross assets of banks operating in the UAE rose to Dh5.63 trillion at the end of May, up 1.1 per cent from Dh5.57 trillion a month earlier, as lending continued to expand, according to the Central Bank of the UAE (CBUAE).
In its latest Monetary and Banking Developments report, the central bank said gross credit increased by Dh12.3 billion, or 0.5 per cent, to Dh2.73 trillion at the end of May from Dh2.72 trillion at the end of April.
Recommended For You
The increase was driven by a Dh13.8 billion rise in domestic credit, while foreign credit weighed on overall growth, declining by 0.1 percentage points to Dh562.5 billion.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Within domestic credit, all major sectors contributed to the expansion. Lending to the private sector was the main driver, with credit to both corporates and individuals increasing by Dh4.6 billion each. Credit extended to government-related entities (GREs) also rose by Dh3.5 billion, or one per cent.
Banks' deposits reached Dh3.46 trillion at the end of May. Non-resident deposits increased 3.6 per cent over the month to Dh318.6 billion, while deposits from other financial corporations rose 2.4 per cent to Dh67.2 billion.
The report also showed that the narrow money supply (M1), which comprises currency in circulation outside banks and monetary deposits, stood at Dh1.05 trillion at the end of May. Currency in circulation outside banks totalled Dh167.6 billion, while monetary deposits reached Dh885.9 billion.
Meanwhile, the broader money supply measure (M2) stood at Dh2.85 trillion, while M3, which includes government deposits, reached Dh3.39 trillion. The monetary base totalled Dh848.5 billion, with banks' reserve balances held at the CBUAE jumping 49.4 per cent during the month to Dh295.4 billion.
Hind Aldah is a business reporter based in Sharjah. In her spare time, you will find her playing classical guitar, painting amateur oil paintings, or crocheting the same old scarf that leads nowhere.