Monday 24, July 2017 by Georgina Enzer

Assets of 13 listed UAE banks surge to AED 1.41 trillion in H1

Total assets of 13 UAE banks have surged 6.8 per cent to AED 1.41 trillion, by the end of H1 2017, according to the UAE Central Bank.

The figure for the corresponding period in 2016 was AED1.31 trillion. The aggregate loans provided by the thirteen banks surged to AED 906.8 billion by the end of the H1, a seven per cent growth from AED 846.9 billion over the same period 2016.

A UAE Central Bank report also noted that there was an 8.2 per cent increase in customer deposits at the 13 listed banks until 20 July 2017, an increase to AED 963 billion, up 8.2 per cent up from AED 890 billion in the same period last year.

Emirates NBD claimed the largest share of assets with AED 456.2 billion by the end of the first half, followed by the ADCB at AED 259.2 billion, and Dubai Islamic Bank at AED 193 billion.

The improvement in results tallies with what many of the region's bankers were saying at the Banker Middle East Industry Awards 2017, that 2017 is a brightening year for the UAEs banking and finance industry. To hear more on this check out our video interviews here.

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