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UAE’s ATM cash withdrawal grows 4.9% in Q4

11 Jan 2012

(MENAFN) The UAE’s Central Bank said that in 2011’s fourth quarter, cash withdrawals from teller machines (ATMs) rose by around 4.9 percent, reported Emirates 24/7.

The bank added that total value of financial transactions carried out through the UAESWITCH, which consists of around 840 ATM machines, reached USD5.82 billion, from USD5.55 billion in the previous quarter.

It also said that the increase indicated that spending by consumers in the fourth quarter grew, as people took more money from banks, adding that the number of transactions went up to around 19.4 million, compared with 18.2 million.

It is worth noting that during the quarter, the number of transactions carried through the connection of the UAESWITCH to the other GCC switches fell to 867,000 from 940,000 in the third quarter.

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