By Andrei Skvarsky.
The total assets of the United Arab Emirates’ banking sector, including bankers’ acceptances, reached AED 3.62tn (about $986bn) by the end of October 2022, having gone up 0.9 per cent month-on-month, the central bank said in a report made public last week.
Gross credit rose by 0.2 per cent to AED 1.88tn ($512bn) between the end of September and the end of October.
Total deposits swelled by 0.8 per cent to AED 2.2tn ($599bn) in the same period. Deposits at banks went up by about 0.4 per cent while those in non-banking financial institutions shrank by 24 per cent, the regulator said.
The dirham-dollar exchange rate has changed only marginally since the end of October 31.
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