RIYADH: Total assets held by banks operating in the UAE rose 11.8 percent year on year to 5.81 trillion dirhams ($1.58 trillion) in the third quarter, marking a 4 percent increase from the previous quarter, official data showed.
The figures, released by the Central Bank of the UAE, also showed continued growth in deposits across the banking sector.
Total bank deposits climbed 12 percent annually to 3.57 trillion dirhams, representing a 2.7 percent increase quarter on quarter, state news agency WAM reported.
UAE banking growth aligns with economic expansion outlook
The expansion follows strong growth in the banking sector during the first half of the year.
The Central Bank’s September 2026 Quarterly Economic Review showed that total banking assets had increased 12.5 percent year on year to 5.6 trillion dirhams by the end of the second quarter.
The loan portfolio expanded 18.1 percent, while deposits grew 14 percent over the same period.
The broader economic outlook also points to continued expansion. The Central Bank projected real gross domestic product growth of 10.4 percent in 2027, up from 1.6 percent in 2026, in its September review.
The stronger outlook is largely underpinned by an expected 26.8 percent expansion in hydrocarbon activity, while non-hydrocarbon GDP is forecast to grow 4.9 percent.
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