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Banks operating in the Emirate of Dubai increased their assets by 6.5% during the first six months of this year, adding AED 117 billion to their total assets base, rising from AED 1.802 trillion at the end of 2023 to AED 1.919 trillion in June 2024.
The banking indicators report issued by the Central Bank showed that the total investments of these banks had grown by 8.2% and by more than 21 billion dirhams between the two periods, with the balance rising from 254 billion at the end of last year to 275 billion dirhams in the middle of the year.
The report showed that the credit granted by the emirate’s banks increased by more than 32.5 billion dirhams, bringing its cumulative balance to 936.5 billion dirhams in June of this year, compared to its total balance of 904 billion at the end of last year.
The data showed that the emirate’s banks maintained the attractiveness of deposits, achieving the highest share of the total in the country, as their cumulative balance increased by a growth rate of nearly 8% from 1.147 trillion dirhams in 2023 to 1.236 trillion dirhams in June of this year.
On the other hand, the data showed that Abu Dhabi banks remained at the forefront of their share of the total banking assets in the country, reaching 2.049 trillion dirhams compared to a total of 1.949 trillion dirhams last year, while investments increased from 326 billion to 346 billion dirhams.
Deposits reached AED 1.229 trillion, compared to a cumulative balance of nearly AED 1.164 trillion in the previous year.
On the other hand, the assets of other state banks rose to 340.2 billion dirhams, the balance of deposits reached 226 billion dirhams, and credit reached 340 billion dirhams, while investments reached nearly 59 billion dirhams at the end of June of this year.
