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According to the Central Bank of the UAE’s Monetary and Banking Developments report for May 2026, gross banks’ assets rose by 1.1 percent over the month to reach Dh5,633.1 billion. The total had stood at Dh5,570.1 billion at the end of April. Central Bank of the UAE data for earlier months in 2026 show a consistent pattern of expansion, with assets having grown from Dh5,413.6 billion in January.
The report detailed a 0.5 percent increase in gross credit to Dh2,733.1 billion from Dh2,720.7 billion the previous month. Domestic credit provided the main impetus, advancing by Dh13.8 billion, while foreign credit settled at Dh562.5 billion after exerting a slight negative pull. All major sectors contributed positively to the domestic credit expansion, the Central Bank of the UAE assessment found.
Lending to the private sector led the way with a Dh4.6 billion increase that was evenly split between corporate and individual borrowers, each contributing 0.2 percentage points to overall domestic credit growth. Government-related entities also saw credit rise by Dh3.5 billion, or 1.0 percent, adding a further 0.2 percentage points. The Central Bank of the UAE report attributed the credit momentum to broad-based demand across these categories.
Banks’ deposits totalled Dh3,463.4 billion at the end of May 2026, the Central Bank of the UAE report showed. Non-resident deposits grew 3.6 percent to Dh318.6 billion during the month while deposits from other financial corporations increased 2.4 percent to Dh67.2 billion and accounted for 0.1 percentage points of the overall deposit movement. These shifts helped support the broader liquidity position within the system.
On the monetary aggregates, M1 reached Dh1,053.5 billion with currency outside banks at Dh167.6 billion and monetary deposits at Dh885.9 billion. M2 stood at Dh2,853.9 billion after quasi-money, including dirham deposits of Dh1,135.4 billion, provided a positive contribution. M3 came in at Dh3,393.4 billion, supported by government sector deposits that climbed to Dh539.5 billion.
A January 2026 assessment by S&P Global Ratings projected that UAE GDP would expand by about 4.7 percent over the course of the year. The Central Bank of the UAE’s May data showed the monetary base at Dh848.5 billion while reserve balances of banks with the authority recorded a 49.4 percent increase to Dh295.4 billion.
