The UAE Central Bank has reported a significant rise in bank loans extended to various economic activities for residents, with an increase of AED 21 billion over three months. By the end of March, these loans had escalated to AED 1.8697 trillion, up from AED 1.8487 trillion at the close of December.

This unprecedented growth reflects the robustness of the nation's economy and the burgeoning commercial and investment activities, highlighting banks' eagerness to support diverse economic endeavors.

Personal consumer loans witnessed the most substantial increase, surging by AED 18.3 billion within this period.

The latest statistics released by the Central Bank indicate that bank financing covered 12 main economic sectors, with increases noted in seven key areas: agriculture, industry, trade, transport and storage, communications, financial institutions along with personal consumption and business-oriented personal loans. Conversely, funding decreased for five sectors: mining, electricity and gas supply including water utilities, real estate development and construction projects, government-related activities, as well as other miscellaneous activities.

In more detail, funding for financial institutions rose noticeably to reach AED 202.9 billion by March's end compared to AED 194 billion in December 2024-a growth of AED 8.9 billion.

Transportation, storage and communication sector lending exceeded AED 112 billion in March against AED 110.1 billion in December last year-a gain of AED 1.9 billion.

The commerce sector saw its loans swell to AED 172.6 billion from December’s figure of AED 169.3 billion-an increment worth AED 3.3 billion.

Loans granted for personal consumption soared dramatically to reach a total of AED 520.6 billion compared to December’s record of AED502.3billion-marking an increase by AD18.3billion.Furthermore,business.