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UAE personal loans growth resumes

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Monday, 22 June 2009
PERSONAL LENDING: On the up in the UAE, according to central bank figures. (Getty Images)
PERSONAL LENDING: On the up in the UAE, according to central bank figures. (Getty Images)

Personal loans in the UAE grew for the first time since December, rising 2.9 percent to Dh207.6 billion ($56 billion) in May, according to the latest Central Bank monthly figures.

Loans growth slowed over the past year, to a low of -0.3 percent in February, as a result of a global credit shortage which forced local banks to reign in lending.

Total bank assets meanwhile climbed 1.2 percent to Dh1.49 trillion, the National reported. Total deposits also rose, increasing by 1.1 percent.

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