UAE banks are storing more than $67bn of savings deposits, statistics by the Central Bank of the UAE revealed.
At the end of November of last year, saving deposits in the UAE banking system, excluding interbank deposits, increased to AED246.61bn ($67bn), a growth of approximately AED7.21bn ($2bn), or 3 percent, from about AED239.4bn ($65bn) in November 2021
Saving deposits increased during the first eleven months of 2022 by 1.98 percent, compared to about AED241.82bn ($65.8bn) at the end of 2021, an increase equal to AED4.8bn ($1.3bn).
UAE savings deposits
On a monthly basis, they grew by 0.06 percent, compared to about AED246.48bn ($67bn) in October 2022, according to the statistics of the apex bank.
Demand deposits increased by AED820.83bn ($223bn), or 82.5 percent, to AED903.36bn ($246bn) at the end of November last year, representing an annual rise of 10.1 percent.
Demand deposits climbed by 6.5 percent, or the equivalent of AED55.3bn ($15bn), over the first eleven months of last year compared to AED848.04bn ($231bn) at the end of 2021.
They however declined on a monthly basis by 1.7 percent compared to AED918.97bn ($250.2bn) in October 2022.
Time deposits increased by 17 percent annually to AED599.81bn ($163.3bn) by the end of last November, up from AED513.16bn ($140bn) in November 2021.
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