Deposits by UAE private sector drop in the first five months of 2012
- United Arab Emirates: Monday, October 08 - 2012 at 05:57
According to data by the UAE central bank, the country's deposits by the private sector with local banks fell by nearly Dhs19bn in the first five months of 2012, Emirates 24-7 has reported. Private sector deposits with the country's 23 national banks and 28 foreign units dipped to nearly Dhs374bn at the end of May 2012 from around Dhs393.5bn at the end of 2011. Most of the decline was in deposits by business and industrial institutions as they shrank to nearly Dhs348bn from Dhs364.9bn, the figures showed.
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