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FINANCIAL NEWS
UAE banks increase deposits abroad to USD31.27b in Jan-Aug
25 Dec 2012
(MENAFN) The UAE Central Bank stated that in the January-August period, banks in the country increased their deposits with banks abroad to around USD31.27 billion, reported Emirates 24/7.
The bank said that at the new figure represents an increase of USD8.16 billion from the USD22.80 billion posted at the end of last year.
It added that the increase was recorded in time deposits, which grew from USD18.83 billion to about USD28.68 billion.
On the other hand, demand deposits declined to USD2.55 billion, compared with USD3.97 billion.
It is worth noting that the central bank’s report covers the UAE’s 51 banks.
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