ABU DHABI: Total volume of personal loans with banks in the UAE increased to Dh349.9 billion in February 2017, according to a UAE Central Bank report issued on Tuesday.
By providing personal and corporate finance facilities, as well as creation of jobs, the UAE banks continue to play a dynamic role in establishing a robust economic development process through the mobilisation of financial resources, ensuring the required financing for the support of the national economy and creating the required investments, the report added.
The total bank reserves at the Central Bank have risen to Dh258.4 billion, according to the report, which featured a detailed coverage of banking sector indices in the country.
In further details, the report mentioned that the total banking reserves at the Central Bank increased to Dh257.7 billion in February from Dh247.7 billion in January 2017.
The personal loans rose to Dh349 billion in February 2017, an increase of 3 per cent over January’s total loan value, the report noted.
The banking sector boosted its total investment value to Dh296.5 billion, an increase of Dh4.4 billion from Dh292.1 billion in January 2017.
The report also highlighted that banking capital and reserves rose from Dh350.7billion in January to Dh351.3 billion in February 2017.
– By Rajive Singh