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FINANCIAL NEWS
UAE’s banking deposits reach USD117bn in Q1 this year
02 Jun 2017
(MENAFN) Short-term deposits reached for the largest share of banking deposits in the UAE, with medium and long-term deposits enhanced amid the first quarter of the year.
Accordingly, bank deposits for less than 3 months amounted to AED428.7bn by the end of April, claiming 55.2 percent of whole banking deposits, valued at AED777bn.
Recently, 3.5 months term deposits were valued at AED127.55bn, accounting for 16.4 percent of whole deposits, with 6- month term investments claiming 22.5 percent of total deposits.
In addition, deposits for more than 12 months were valued at AED45.4bn, making more than 5.8 percent of whole deposits amid the first four months of the year.
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