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UAE banks record total assets of USD820bn
(MENAFN) According to official figures from the UAE Central Bank, the total assets of UAE-based conventional banks rose to about USD670 billion by the end of September.
It was also shown by the data that USD47 billion of assets were added by the banks over the past nine months of 2019.
Up to 19.7 percent of these assets are owned by Shariah-compliant banks, state news agency WAM reported, adding that the total assets of Islamic and commercial banks combined exceeded USD820 billion by the end of September.
It added that the asset growth was driven a rise in deposits from USD0.368 trillion in December 2018 to USD0.382trillion in September.
It was also shown by the data that USD47 billion of assets were added by the banks over the past nine months of 2019.
Up to 19.7 percent of these assets are owned by Shariah-compliant banks, state news agency WAM reported, adding that the total assets of Islamic and commercial banks combined exceeded USD820 billion by the end of September.
It added that the asset growth was driven a rise in deposits from USD0.368 trillion in December 2018 to USD0.382trillion in September.
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