UAE deposits stood at Dh41.4 billion in Q1 2017

capital adequacy exceeds Basel III requirements

ABU DHABI 3 May 2017: Recent statistics by the UAE Central Bank have affirmed improved operating efficiency, with public sector deposits up by Dh23.8 billion at the end of Q1 2017, while the private sector deposits stood at Dh17.6 billion over the same period, bringing to Dh41.4 billion the two sectors’ total deposits.

Credits offered to the trade and industrial sectors were valued at Dh3.6 billion over the first three months of the year, while personal loans stood at Dh1.1 for the same period.

The loans to stable resources ratio rose to 85.4 per cent by end of March from 84.8 per cent in February, with liquid assets ratio , which is equal to the total liquid asset at banks, inclusive mandatory reserve requirements, amounting to 16.8 percent of total assets, reported Wam.

The capital adequacy ratio amounted to 18.6 per cent by the end of the first quarter of 2017, 16.9 per cent of which exceeded the requirements of Basel III Agreement.

Total banking loans to trade and industrial sectors increased from Dh727.8 billion by end of 2016 to Dh731.4 billion by the end of March, while personal loans rose for the same period from Dh348.2 billion to Dh349.3, according to the Central Bank statistics.

Total private sector deposits rose from Dh980.7 billion by end of 2016 to Dh998.3billion in March, with total deposits of the public sector, government institutions and departments, were up from Dh168.2 billion to Dh192 billion during the same period.

By Rajive Singh