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FINANCIAL NEWS
Personal loans in UAE hit Dh434bn
01 Feb 2017
(MENAFN) Personal debts earned by residents in the UAE began to slow down amid tight lending conditions.
Meanwhile, the average person in the country now owes Dh42.571 in debts, like credit card balances, car loans and other forms of personal borrowings.
Moreover, UAE residents’ total personal loans reached Dh434.23bn in the same period, up from Dh430bn in the second quarter.
On the other hand, personal loans for consumption amounted to Dh138.95bn, whereas borrowings for business reasons reached Dh295.28bn.
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