Banks in Dubai recorded an increase of 12.8 billion dirhams in their assets in January 2024, reaching a total of 1.81 trillion dirhams by the end of the month, showing a growth of 0.7% compared to December 2023. In the same period, banks Abu Dubai added 26.2 billion dirhams to its assets, reaching 1.975 trillion dirhams by the end of January. However, other UAE banks saw assets fall by 5.1 billion dirhams, totaling 315.1 billion dirhams by the end of the month.
On a year-on-year basis, bank assets in Dubai grew by 12.4%, reaching 1.818 trillion dirhams by the end of January 2023. Banks in Abu Dhabi also saw growth of 11.8%, reaching 1.766 trillion dirhams by the end of January 2023. Other Banks The UAE experienced an increase of 11.3%, totaling 283.1 billion dirhams by the end of January 2023.
Credit from banks in Dubai increased by 0.3% in January 2024, reaching 907.6 billion dirhams by the end of the month. Abu Dhabi banks recorded an increase of 0.4 percent, totaling 920 billion dirhams. However, loans from other UAE banks decreased by 1.5% to 168.6 billion dirhams.
Total investments by banks in Dubai increased by 1.1% in January 2024, to a total of 256.6 billion dirhams by the end of the month. Abu Dhabi banks recorded growth of 0.2 percent, reaching 326 billion dirhams. Other UAE banks saw growth of 4.5 percent, totaling 57.5 billion dirhams by the end of January 2024.
Dubai’s banks attracted 9.40 billion dirhams of new deposits in January 2024, reaching a total of 1.156 trillion dirhams, with a growth of 0.8% compared to the previous month. Abu Dhabi banks added 10.9 billion dirhams to their deposits, reaching 1.175 trillion dirhams with a growth of 0.9%. However, deposits in other Emirate banks decreased by 1.1% to 207.5 billion dirhams by the end of January 2024.
On an annual basis, deposits in Dubai banks increased by 16.9%, in Abu Dhabi banks by 11.1%, and in other UAE banks by 12.2%.
