Total assets of the UAE banks increased by 2.7% year-on-year or AED 43 billion at the end of June 2019 to AED 1.64 trillion, compared to AED 1.6 trillion at the end of December 2018, Al Bayan newspaper reported.
The increase in total assets was mainly driven by a growth of AED 31 billion in total deposits, according to data by the Central Bank of the UAE.
Cash deposits rose by 2% to AED 430.6 billion at the end of June, versus AED 428.6 billion at the end of May.
Meanwhile, the non-cash deposits jumped by 29% or AED 29 billion last month to AED 843.1 billion, compared to AED 814.1 billion at the end of May.
The central bank also highlighted that foreign assets shed by 3.9% or AED 14.9 billion at the end of June to AED 364.3 billion, versus AED 379.2 billion at the end of May.