Dubai banks added 12.8 billion dirhams to their assets during January 2024, reaching 1.81 trillion dirhams by the end of January 2024, a growth of 0.7%, compared to 1.80 trillion dirhams at the end of December 2023. While Abu Dhabi banks added 26.2 billion dirhams to their assets. To reach 1.975 trillion dirhams at the end of last January, a growth of 1.3% compared to 1.948 trillion dirhams at the end of December 2023. The assets of other UAE banks declined by 1.6%, or the equivalent of 5.1 billion dirhams, to reach 315.1 billion dirhams, at the end of January 2024, compared to 320. 2 billion dirhams at the end of December 2023, according to statistics from the Central Bank of the Emirates.
On an annual basis, the assets of Dubai banks increased by 12.4%, or the equivalent of 200.40 billion dirhams, compared to 1.618 trillion dirhams at the end of January 2023. While the assets of Abu Dhabi banks increased by 11.8%, or the equivalent of 208.50 billion dirhams, compared to 1.766 trillion dirhams at the end of January 2023. The assets of other UAE banks increased by 11.3%, or the equivalent of 32 billion dirhams, compared to 283.1 billion dirhams at the end of January 2023.
Credit granted by Dubai banks increased by 0.3%, or by 3 billion dirhams in January 2024, to 907.6 billion dirhams by the end of January 2024, while it increased by 0.4%, or by 4.10 billion dirhams to Abu Dhabi banks, to reach 920 billion dirhams, and credit declined. Granted by other UAE banks, by 1.5%, or by 2.69 billion dirhams to 168.6 billion dirhams.
The data indicated that local credit granted by Dubai banks increased by 1.90 billion dirhams, 200 million dirhams from Abu Dhabi banks, and decreased by 2.30 billion dirhams from other Emirati banks.
On an annual basis, credit granted by Dubai banks increased by 5.2%, or the equivalent of 44.50 billion dirhams, compared to 863.1 billion dirhams at the end of January 2023. While credit granted by Abu Dhabi banks increased by 8%, or the equivalent of 68.10 billion dirhams, Compared to 851.9 billion dirhams at the end of January 2023. Credit granted by other UAE banks increased by 5.8%, or the equivalent of 9.30 billion dirhams, compared to 159.3 billion dirhams at the end of January 2023.
Total investments by banks in Dubai during January 2024 increased by 1.1%, or by 2.70 billion dirhams, to 256.6 billion dirhams, by the end of January 2024, and increased by 0.2%, or by 500 million dirhams, for banks in Abu Dhabi, to reach 326 billion dirhams, and increased by 4.5%, or 2.50 billion dirhams for banks in other emirates, to 57.5 billion dirhams by the end of January 2024.
On an annual basis, total investments by banks in Dubai increased by 25.5%, or the equivalent of 52.10 billion dirhams, compared to 204.5 billion dirhams at the end of January 2023. While total investments by Abu Dhabi banks increased by 14.1%, or the equivalent of 40.30 billion dirhams. , compared to 285.7 billion dirhams at the end of January 2023. The total investments by other UAE banks increased by 25%, or the equivalent of 11.50 billion dirhams, compared to 46 billion dirhams at the end of January 2023.
Dubai banks attracted 9.40 billion dirhams in new deposits in January 2024, reaching 1.156 trillion dirhams, with a growth of 0.8% on a monthly basis, while Abu Dhabi banks added 10.90 billion dirhams to their deposits, reaching 1.175 trillion dirhams, with a growth of 0.9%, while deposits in other Emirati banks declined. By 1.1%, or by 2.30 billion dirhams to 207.5 billion dirhams by the end of January 2024.
On an annual basis, deposits in Dubai banks increased by 16.9%, or the equivalent of 167.10 billion dirhams, compared to 1.058 trillion dirhams at the end of January 2023. While deposits in Abu Dhabi banks increased by 11.1%, or the equivalent of 117.10 billion dirhams, compared to 989.8 billion dirhams. By the end of January 2023. Deposits in other UAE banks increased by 12.2%, or the equivalent of 22.50 billion dirhams, compared to 185 billion dirhams at the end of January 2023.