UAE bank lending growth in January weakest since 2014
Annual growth in bank lending (gross loans and advances) in the UAE slowed in January to 5.7% Y-o-Y to its weakest since March 2014, Central Bank data showed on Sunday, this is compared to 6% in December 2016 and 7.4% in January 2016. Bank deposits, which totaled AED1.563tn in December, fell by AED1bn M-o-M in January, mainly because of a AED2.1bn drop in non-resident deposits; resident deposits increased AED1.1bn. (Reuters)
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