Abu Dhabi: Saving deposits in the UAE banking system, excluding interbank deposits, increased to Dh245.537 billion by the end of January 2023, a YoY growth of approximately Dh2.023 billion, or 0.92 per cent, from about Dh243.31 billion in January 2022, statistics by the Central Bank of the UAE revealed.

Savings deposits in the UAE banks have grew remarkably over the recent years, from Dh152 billion at the close of 2018 to Dh172.2 billion in 2019 and to Dh215.2 billion in 2020; and Dh241.8 billion in 2021, according to the statistics of the apex bank.

Demand for deposits grew to Dh914.74 billion by the end of January 2023, a YoY growth of 5.6 per cent from Dh866.16 billion in January 2022, added the bank's statistics.

Term deposits surged to Dh611.69 billion by the end of last January, a YoY growth of 19.5 per cent from Dh512.04 billion in January 2022.