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Statistics from the UAE Central Bank show that large deposits (more than Dh20 million) account for the largest share of the country’s total banking deposits, amounting to Dh2.657 trillion as of the end of 2023.
Statistics show that as of the end of March last year, the value of deposits exceeding 20 million dirhams was about 1.537 trillion dirhams, equivalent to 57.8% of the country’s total banking deposits, an increase of 14.7% over the same period last year. As of the end of March 2023, it was 1.34 trillion dirhams.
According to statistics, the value of deposits exceeded 5 million and 20 million dirhams, equivalent to about 326.9 billion dirhams, accounting for 12.3% of the total deposits, an increase of 15.6% from about 282.7 billion dirhams in March 2023.
Deposits of more than Dh1 million to Dh5 million accounted for about 13.3% of the total and were worth Dh353.1 billion as of the end of March last year, up 15.6% from about Dh305.5 billion in March 2023.
The bank explained that earnings on deposits of more than Dh500,000 to Dh1 million reached Dh135.17 billion, or 5.1% of total deposits at the end of March last year, and increased by 16.3% from about Dh116.3 billion in March 2023.
The share of deposits exceeding Dh250,000 to Dh500,000 reached about 4.03%, equivalent to Dh107.14 billion in March last year, an increase of 17.8% compared to about Dh90.9 billion in March 2023.
The central bank said deposits of zero to Dh250,000 accounted for about 7.4% of the total banking deposits in the country, equivalent to Dh197.6 billion at the end of March last year, an increase of 16%. Compared with about Dh170.4 billion in March 2023, it increased by %.
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