According to figures from the central bank, these savings deposits grew by 5.8% each month.
According to the most recent statistics provided by the Central Bank of the UAE (CBUAE), banks in the UAE held savings deposits of Dhs268.6 billion by the end of June 2023. According to state news agency WAM, interbank deposits are not included in this.
According to figures from the central bank, the amount of these deposits climbed by 5.8% each month, or Dhs14.8 billion.
Money saved in UAE dirhams
About 81.6 percent, or Dhs219.17 billion, of the savings deposits were made in the local currency, the UAE Dirham. 18.4% of the whole amount was made up of foreign currencies, worth Dhs 49.44 billion.
Savings deposits in banks have grown significantly.
These deposits totaled Dhs152 billion in 2018. In 2019, Dhs172.2 billion, Dhs215.2 billion, Dhs241.8 billion, and Dhs245.8 billion were added to this amount.
deposits of CBUAE
The CBUAE released its budget for the first half of the year earlier this month. The public budget of the central bank increased by 32.15 percent, or Dh158 billion, compared to about Dh91.4 billion in June 2022.
This growth continued into the current year, increasing by 17.5% from the beginning of the year to reach Dhs552.5 billion at the end of December 2022, an increase of Dhs97 billion over the first half of the year.
The assets side of the budget’s allocation specified that Dhs257.2 billion would be allocated to cash and bank balances for June. Investments kept till maturity were also designated at Dhs211.32bn.
Allocations for loans and advances and other assets totaled Dhs4.18 billion and Dhs41.38 billion, respectively.