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FINANCIAL NEWS
UAE bank deposits up by USD10m in March
14 May 2012
(MENAFN) The UAE’s Central Bank stated that deposits with the country’s banks grew by USD10 million to USD311 million at the end of March, compared with USD301 million at the end of February, reported Emirates 24/7.
The bank added that during the period, loans rose slightly by 0.3 percent from the same period a year earlier, reaching USD292 million.
It said that the level of provisions against bad loans reached a record high of USD16.08 billion, with a rise of USD435 million from the USD15.65 billion recorded at the end of February.
It is worth noting that at the end of March, UAE banks had the largest asset base in the Middle East, with their combined assets/liabilities surging to USD473 billion.
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