UAE conventional banks' assets amount to $585bln in late November | ZAWYA MENA Edition:
"The total assets of conventional banks operating in the UAE amounted to AED2.148 trillion by the end of November, accounting for around 80 percent of the UAE banking system's total assets, which reached AED2.687 trillion, with Islamic banks comprising the remaining 20 percent, with total assets of AED538.5 billion, according to the UAE Central Bank Indicators Report.
Conventional banks' assets increased by AED44 billion by the end of November against October, in yet a new sign of these banks' increased solvency, driven by government deposits as well as residents and non-residents' deposits following the recent interest rate hike.
The Islamic banks' assets rose as well by AED3.4 billion to AED538.5 billion during November from AED534.9 billion in October."
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