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Abu Dhabi / WAM
The balance of loans lent by banks operating in the UAE to the industrial and business sectors rose 3.4 percent at the end of May 2018 to AED 774.5 billion, from AED748.9 billion in December 2017, according to figures released by the UAE Central Bank (CBUAE) on Sunday.
The two sectors borrowed 48 percent of aggregate loans offered by these banks to all sectors, which stood at AED1.6 trillion.
Banking analysts said the marked rise in loans is a clear sign of the sustained growth of the two sectors in the previous months, which will also stimulate national economic growth.