Deposits at UAE-based banks outvalued loans by Dhs85bn ($23bn) during the first 11 months of 2018, according to figures from the country’s Central Bank.
The Eligible Liquid Assets Ratio rose to 17 per cent by the end of November, reported UAE news agency WAM – up from 16.5 per cent in October, with the Capital Adequacy Ratio rising to 18.2 per cent.
Data from the Central Bank of the UAE also shows that aggregate deposits at UAE-based banks climbed to around Dhs1.739 trillion ($474bn) by the end of November last year, Dhs112bn ($30.5bn) up from Dhs1.627 trillion ($443bn) by the end of December 2017. This growth was driven by an increase in residents’ deposits to around Dhs1.535 trillion ($418bn) by the end of November 2018, compared to Dhs1.435 trillion ($391bn) by the end of December 2017, said WAM.
Government deposits rose from Dhs212bn ($57.7bn) to Dhs303.5bn ($82.6bn) during the same period.
In terms of credit, total loans came to Dhs1.653 trillion ($450bn) in November 2018, compared to Dhs1.58 trillion ($430bn) by the end of December 2017.