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255.5 billion dirhams of savings deposits in the banking sector at the end of last July

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Savings deposits in the banking sector in the country – excluding deposits between banks – rose to 255.55 billion dirhams at the end of last July, an increase on an annual basis by about 20.4 billion dirhams, or 8.7%, compared to about 235.13 billion dirhams in June 2021, according to the latest statistics of the Central Bank of the Emirates.

Statistics showed that savings deposits increased on a monthly basis by about 1.73 billion dirhams, or 0.7%, compared to 253.83 billion dirhams in the previous June, while it increased during the first seven months of this year by 5.7%, compared to about 241.82 billion dirhams at the end of last year 2021, An increase equivalent to 13.7 billion dirhams.

Central Bank statistics showed that demand deposits rose to 908.44 billion dirhams at the end of last July, an increase on an annual basis by 18.7%, equivalent to 143.34 billion dirhams, compared to 765.1 billion dirhams in July 2021.

Demand deposits increased during the first seven months of this year by 7.1%, or 60.4 billion dirhams, compared to 848.04 billion dirhams at the end of last year.

According to the Central Bank bulletin, time deposits reached 548.15 billion dirhams at the end of last July, an increase on an annual basis by 2%, compared to about 537.61 billion dirhams in July 2021, while they increased during the first seven months of this year by about 2.7%, compared to 533.57 billion dirhams at the end of the year. Past.