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RIYADH: The value of assets in UAE banks rose 3.7 percent to 3.29 trillion dirhams ($895 billion) in January, up from 3.17 trillion dirhams in the same period a year ago, recent government data showed.
However, it slipped by 0.9 percent on a monthly basis from 3.32 trillion dirhams in December, according to statistics by the UAE’s central bank.
The data also revealed a 5.7 percent increase in bank deposits year-on-year to 1.98 trillion dirhams.
Total credit reached 1.8 trillion dirhams at the end of January, recording a 1.2 percent rise from a year earlier and a 0.4 percent increase compared to the previous month.