RIYADH: The UAE banking sector recorded a 3.9 percent quarterly increase in deposits during the third quarter, driven primarily by a 5.6 percent rise in time deposits, according to a recent report. This solid growth in deposits outpaced the 3.5 percent rise in loans and advances over the same period.
Retail borrowing was the key driver behind the loan growth, with retail lending increasing by 4.9 percent quarter on quarter.