UAE personal loans growth resumes

by Martin Morris Monday, 22 June 2009

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.

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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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