Savings Deposits held by UAE banks, excluding interbank deposits, amounted to AED 268.6 billion by the end of June 2023, according to the latest statistics from the Central Bank of the UAE.
The apex bank's statistics showed these deposits increased by 5.8 per cent on a monthly basis, or AED 14.8 billion.
The local currency, the UAE Dirham, accounted for the largest share of Savings Deposits, with about 81.6 per cent, or AED 219.17 billion. The share of foreign currencies was 18.4 per cent, with a value of AED 49.44 billion.
Savings Deposits in banks have seen remarkable growth over the past few years. In 2018, these deposits stood at AED 152 billion. This increased to AED 172.2 billion in 2019, AED 215.2 billion in 2020, AED 241.8 billion in 2021, and AED 245.8 billion in 2022.
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