UAE lending rises 1.2 per cent in September

21 November 2012

Highest deposit growth in six months spurs UAE lending

Bank lending in the UAE rose by 1.2 per cent in September, the fastest rate since June after banks benefited from the highest growth in deposits for six months.

Credit has generally been slow this year, at least in part due to new regulation from the Central Bank of UAE that put caps on how much banks can lend to governments and government-related entities.

Total bank assets rose by 1.7 per cent in September, as did total provisions.

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