UAE banks have Dh246.6 billion in saving deposits as of November 2022

At the end of November of last year, saving deposits in the UAE banking system, excluding interbank deposits, grew to Dh246.61 billion, a growth of approximately Dh7.21 billion, or 3 per cent, from about Dh239.4 billion in November 2021, statistics by the Central Bank of the UAE, revealed.

Saving deposits increased during the first eleven months of 2022 by 1.98 percent, compared to about Dh241.82 billion at the end of 2021, an increase equal to Dh4.8 billion. On a monthly basis, they grew by 0.06 per cent, compared to about Dh246.48 billion in October 2022, according to the statistics of the apex bank.

Demand deposits increased by Dh820.83 billion, or 82.5 per cent, to Dh903.36 billion at the end of November last year, representing an annual rise of 10.1 per cent.

Demand deposits climbed by 6.5 per cent, or the equivalent of Dh55.3 billion, over the first eleven months of last year compared to Dh848.04 billion at the end of 2022. They, however, declined on a monthly basis by 1.7 per cent compared to Dh918.97 billion in October 2022.

Time deposits increased by 17 per cent annually to Dh599.81 billion by the end of last November, up from Dh513.16 billion in November 2021.