Banking & Finance
AED17.5 bn in credit facilities to non-residents in eight months
(WAM) — Credit facilities provided by UAE banks to non-resident clients rose by AED17.5 bn over the first eight months of the year, statistics by the Central Bank of the United Arab Emirates have shown.
The cumulative balance of bank loans to non-residents increased 10.5 percent by the end of August, bringing to AED183.5 bn the cumulative balance of these credit facilities against AED166 bn in December 2019.
According to the apex bank’s figures, UAE national banks provided the largest share of these loans, around AED148.7 bn, while foreign banks’ share in the cumulative balance of loans declined to AED34.8 bn by the end of August.
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