Wednesday 30 September 2020 - 8:06:52 am
2020 Sep 30 Wed, 12:58:05 am

6-12 month deposits surge by AED22.8 billion in seven months

ABU DHABI, 29th September, 2020 (WAM) -- The 6-12 month term deposits grew by AED22.8 billion, or 13 pct, during the first seven months of the year, according to the statistics of the Central Bank of the UAE, which put their current cumulative balance at AED199 bn, accounting for about 20.5 percent of the total value term deposits at UAE banks by the end of July. The growth is attributed to a rising demand over this type of deposits due to their higher returns in...