Monday 02, July 2018 by Kudakwashe

UAE banks’ lending to commercial and industrial sectors up by 3.4 per cent

 

The two sectors borrowed 48 per cent of aggregate loans offered by these banks to all sectors, which stood at AED1.6 trillion

  

The balance of loans lent by banks operating in the UAE to the industrial and business sectors rose to AED 774.5 billion from AED 748.9 billion at the end of May 2018, reported WAM.

Banking analysts said the marked rise in loans is a clear sign of the sustained growth of the two sectors in the previous months, which will also stimulate national economic growth.

From January to March 2018, the two sectors received credit facilities worth AED 15.3 billion.

In 2017 alone, banks provided AED20.5 billion in loans to these sectors, WAM reports.

 

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