National banks offered AED 11.8 bn in financial facilities in January

Tue 20-03-2018 20:37 PM

ABU DHABI, 20th March, 2018 (WAM) — The financial facilities offered by national banks to the government and public and private sectors stood at AED11.8 billion in January 2018, boosted by increasing dynamic economic performance and activities, according to figures released by the Central Bank of the UAE.

Figures showed that accumulated balance of financing by national banks reached AED1.3 trillion.

A preliminary reading of the facilities flow index indicated that the private sector accounted for a bulk of facilities at AED5.44 billion, raising the accumulated balance of facilities to AED970.76 billion by the end of January against AED965.32 billion in December.

A breakdown of financial facilities showed that national banks provided AED4.3 billion in January to the industry and business sector, AED1.3 billion to financial institutions, and AED7 million to the insurance sector.

The private sector dominated 75 percent of the total financial facilities in the month under review while the government accounted for 11.7 percent, an increase of 13.3 percent of total facilities.

WAM/Tariq alfaham/Hassan Bashir


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