UAE bank assets rise 6% to Dh2.85tn led by growth from conventional lenders - The National:
The UAE’s bank assets rose 6 per cent to Dh2.85 trillion in the first 11 months of this year from the end of December 2017, led by growth in conventional bank assets, latest Central Bank figures showed.
Conventional banking assets rose 6.1 per cent to Dh2.275tn in the 11 eleven months of this year from the end of December 2017, while Islamic bank assets increased 5.3 per cent to Dh579.2 billion during the same period, according to the figures posted on state-run news agency Wam.
Conventional banking assets accounted for more than three-quarters (79.7 per cent) of total banking assets in the country as of end of November, while Sharia-compliant assets accounted for a fifth (20.3 per cent) o the total. There are 60 banks operating in the UAE, and eight of them are Sharia-compliant.
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