CBUAE: Positive Economic Outlook Drives Increased Lending Demand in UAE

UAE, 5 September, 2024 : The Central Bank of the UAE (CBUAE) reported growing demand for bank credit, driven by economic stability and strong investments despite rising interest rates.

According to the CBUAE’s Q2 2024 Credit Sentiment Survey, a positive economic outlook and improving asset quality are encouraging financial institutions to increase lending. The construction sector saw the highest growth in credit demand, followed by manufacturing, real estate development, and trade.

The report highlighted strong lending demand across all emirates and sectors, with expectations of continued growth in the coming months, particularly in construction, real estate, and manufacturing.

Source : www.wam.ae