UAE Banks’ Assets Rise to $1.43 Trillion in November
UAE banks continued to grow strongly in November, supported by higher lending, deposits, and money supply. The Central Bank of the UAE said total banking assets increased by 0.8% from October to reach $1.43 trillion (AED 5.25 trillion) at the end of November.
This growth was mainly driven by steady expansion in credit, customer deposits, and other key monetary indicators.
Credit growth remains strong
Total bank lending, also known as gross credit, rose by 0.7% to $689.4 billion (AED 2.53 trillion) by the end of November. The increase came from higher lending both inside and outside the country.
Domestic credit grew by $2.45 billion, while foreign credit rose by $2.36 billion, together adding nearly $4.8 billion in new lending during the month.
Within domestic credit, loans to the government increased by 2.6%. Lending to the private sector grew by 0.4%, while loans to non-banking financial institutions rose by a strong 3.6%. These gains were partly offset by a 1% fall in lending to the public sector, which includes government-related companies.
Deposits continue to rise
Bank deposits increased by 1% to $879.5 billion (AED 3.23 trillion). This growth was mainly due to higher deposits from residents, which rose by 1.4% to $816.9 billion.
Government deposits increased slightly by 0.6% to $119.6 billion, while private sector deposits rose by 1.2% to $599 billion. Deposits from government-related entities saw a strong 3% rise, reaching $77 billion. Non-banking financial institutions also increased their deposits by 3.3%.
In contrast, deposits from non-residents fell by 2.4% to $72.3 billion, slightly reducing overall deposit growth.
Money supply trends
The monetary base expanded by 1.7% to $231.5 billion, mainly due to higher reserve balances, increased currency issuance, and growth in central bank bills and Islamic certificates of deposit. However, this was partly offset by a sharp drop in banks’ overnight deposits held at the central bank.
The narrow money supply measure (M1) declined by 1.7% to $272.3 billion, as monetary deposits fell, despite more cash circulating outside banks.
Broader money measures continued to grow. M2 rose by 1.5% to $735.2 billion, supported by higher savings and time deposits. M3 also increased by 1.5% to $871.3 billion, helped by higher government deposits.
UAE banking sector outlook
According to Fitch Ratings, loan growth in UAE banks strengthened in the third quarter, supported by solid economic conditions, strong liquidity, and rising overseas lending by major banks.
Fitch expects international lending by large UAE banks to keep growing through 2026, especially in Saudi Arabia. Higher borrowing costs and tighter liquidity in some markets are pushing companies to look for funding abroad.
Total loans in the UAE banking sector rose by 6%, with lending growth reaching 15% in the first nine months of 2025, higher than the full-year growth of 2024.
Overseas lending by First Abu Dhabi Bank, Emirates NBD, and Abu Dhabi Commercial Bank increased by about $24.5 billion, making up nearly one-quarter of total loan growth in the sector.
Published: 14th January 2026
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