UAE banks announced 54 billion dirhams in new deposits

According to Amac News: Statistics show that quarterly deposits in banks at the end of May 2024 were about 659.01 billion dirhams compared to 604.99 billion dirhams in December 2023, which shows a growth of 8.9 percent.
According to published statistics, national banks accounted for 90.9 percent of the quarterly deposits or 598.9 billion dirhams, while foreign banks accounted for 9.1 percent or 60.02 billion dirhams.
Banks based in the UAE attracted 18.1 billion dirhams in term deposits during the first five months to reach 227.71 billion dirhams at the end of May, which is an increase of 8.6% compared to 205.4 billion dirhams at the end of 2023.
National banks account for 89.9 percent of term deposits worth 204.8 billion dirhams, while foreign banks account for 22.8 billion dirhams, equivalent to 10.1 percent.
Term deposits of more than six months to 12 months attracted about 15.2 billion dirhams in the first five months of this year and reached about 275.89 billion dirhams at the end of May.
This figure shows an increase of about 6% compared to about 260.6 billion dirhams in December 2023.
National banks account for 92.2 percent of term deposits, which is equivalent to more than 254.4 billion dirhams, while foreign banks account for 7.8 percent, which is equivalent to 21.42 billion dirhams.
Term deposits of more than 12 months were recorded at 44.48 billion dirhams at the end of May, which increased by 0.52 percent or 230 million dirhams compared to 44.25 billion dirhams in December 2023.
National banks accounted for 94.1 percent or 41.8 billion dirhams of deposits in the 12 months, while foreign banks accounted for 5.9 percent or 2.63 billion dirhams.