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Abu Dhabi’s banks pumped DH 9.5 billion during the month of March as loans to various economic and private sectors, as their loan portfolio grew 1.3% monthly to reach DH 724.3 billion at the end of last March, compared to 714.8 billion dirhams at the end of February.
Lending by Abu Dhabi banks to the public sector outpaced growth in March by 4.1% to DH 99.5 billion at the end of March, followed by loans to the government by 2% to reach DH 41.2 billion .
Abu Dhabi’s bank loans to the private sector grew by 0.4% to DH 487.1 billion at the end of March, distributed by DH 327.8 billion in commercial loans, and around 159.3 billion dirhams in loans to individuals, as commercial loans increased by 0.8%, while individual loans fell by 0.4%.
In Dubai, the loan portfolio of emirate banks grew by 1.3% in the month from DH 11.5 trillion, to DH 6.7 trillion in new loans to the private sector, as individual loans decreased by 0.3% to 138.1 trillion dirhams, and commercial loans grew 2.4% by 9.1 trillion to reach 389.5 trillion dirhams.
While provisions for bad loans in Abu Dhabi banks grew 3.1% to 27 billion dirhams, and Dubai banks grew 1.4% to 65.2 billion dirhams.
Regarding investments, Abu Dhabi banks decreased 6.9% to 208.1 billion dirhams, and Dubai banks decreased 10.1% to 142.8 billion dirhams.
