The UAE’s banking sector witnessed steady growth in May, with total assets climbing to Dh5.63 trillion. According to the latest data from the Central Bank of the UAE, this represents a 1.1 percent increase from the previous month’s figure of Dh5.57 trillion. This upward trajectory was largely fueled by a consistent expansion in lending, as gross credit rose by Dh12.3 billion to hit Dh2.73 trillion. While foreign credit saw a slight dip, the growth was buoyed by a robust Dh13.8 billion injection into domestic credit channels.

This domestic expansion was broad-based, with private sector lending emerging as a primary catalyst. Both corporate and individual borrowers contributed equally, each seeing an increase of Dh4.6 billion in credit. Additionally, government-related entities received Dh3.5 billion in new funding. Meanwhile, the sector also reported strong liquidity, with total deposits reaching Dh3.46 trillion. The central bank’s report further highlighted a significant strengthening of bank reserves, which jumped by nearly 50 percent to reach Dh295.4 billion, underscoring the overall stability and health of the country's financial landscape.