Bank lending dipped in December and deposits returned to the UAE banking system in large volumes, narrowing the gap between loans and deposits across the sector.
Bank lending decreased by 0.3 per cent in December to Dh1.07 trillion (US$291.3 billion), a four-month low, according to the Central Bank. Total credit extended last year was 3.8 per cent higher than for the previous year.
However, a surge of liquidity pushed deposit levels to their highest since August. Deposits rose 1.5 per cent from November to Dh1.06tn, an increase of 1.9 per cent from the same period a year earlier.
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