Saving deposits in the UAE banking system, excluding interbank deposits, increased to AED245.537 billion by the end of January 2023, a YoY growth of approximately AED2.023 bn, or 0.92 percent, from about AED243.31 bn in January 2022, statistics by the Central Bank of the UAE revealed.
Savings deposits in the UAE banks have grew remarkably over the recent years, from AED152 bn at the close of 2018 to AED172.2 bn in 2019 and to AE215.2 bn in 2020; and AED241.8 bn in 2021, according to the statistics of the apex bank.
Demand deposits grew to AED 914.74 bn by the end of January 2023, a YoY growth of 5.6 percent from AED866.16 bn in January 2022, added the bank's statistics.
Term deposits surged to AED611.69 billion by the end of last January, a YoY growth of 19.5 percent from AED512.04 bn in January 2022.
News Source: Emirates News Agency