The UAE banking sector experienced a solid performance in June, as highlighted by the latest figures from the Central Bank of the UAE. Total bank deposits climbed by 0.3% to reach Dh3.4728 trillion, fueled primarily by a robust 1.2% uptick in resident deposits. Private-sector accounts remained the cornerstone of this growth, while government and government-related entities also saw significant increases in their deposit holdings throughout the month.

Beyond deposit accumulation, the lending environment also showed healthy momentum with gross bank credit expanding by Dh24.7 billion to hit Dh2.7578 trillion. This rise was supported by a notable 3.5% surge in foreign credit, alongside steady domestic lending, which saw increased activity across government sectors and individual borrowing. Furthermore, the broader monetary supply, including M2 and M3, saw consistent growth, reflecting a stable financial landscape as total bank assets reached an impressive Dh5.5938 trillion by the end of the period.