Savings Deposits held by UAE banks, excluding interbank deposits, amounted to AED268.6 billion by the end of June 2023, according to the latest statistics from the Central Bank of the UAE.
The apex bank's statistics showed these deposits increased by 5.8 percent on a monthly basis, or AED14.8 billion.
The local currency, the UAE Dirham, accounted for the largest share of Savings Deposits, with about 81.6 percent, or AED 219.17 billion. The share of foreign currencies was 18.4 percent, with a value of AED 49.44 billion.
Savings Deposits in banks have seen remarkable growth over the past few years. In 2018, these deposits stood at AED152 billion. This increased to AED172.2 billion in 2019, AED215.2 billion in 2020, AED241.8 billion in 2021, and AED245.8 billion in 2022.
News Source: Emirates News Agency