UAE banking assets surge 4% to over Dhs5.815 trillion in Q3

Gross assets of banks operating in the UAE rose 4 per cent quarter-on-quarter during the third quarter of 2026 to more than Dhs5.815 trillion, representing annual growth of 11.8 per cent, according to the Central Bank of the UAE’s quarterly report on monetary, banking and financial market developments issued on Wednesday.

Total bank deposits increased 2.7 per cent quarter-on-quarter to Dhs3.568 trillion, up 12 per cent year-on-year.

Resident deposits rose 2.2 per cent to around Dhs3.25 trillion, while non-resident deposits increased 9.1 per cent to Dhs317.9 billion.

Government-related entities’ deposits contributed around 1.4 percentage points to the quarterly growth in resident deposits, followed by private-sector deposits with a contribution of 0.6 percentage points.

Gross credit rose 5.5 per cent quarter-on-quarter to Dhs2.908 trillion and increased 17.3 per cent year-on-year.

In monetary developments during September, money supply aggregate M1 stood at Dhs1.022 trillion, including Dhs161.6 billion in currency in circulation outside banks and Dhs860.7 billion in monetary deposits.

Money supply aggregate M2 increased 0.6 per cent month-on-month to more than Dhs2.938 trillion.

M3 rose 1.2 per cent during September to Dhs3.508 trillion, supported by government-sector deposits, which increased 4.5 per cent during the month to Dhs570.1 billion. The monetary base stood at Dhs801.9 billion, while banks’ reserve balances with the CBUAE increased 31.3 per cent to AED304.7 billion.

The CBUAE’s foreign assets reached Dhs956.2 billion at the end of September.

In September’s banking indicators, gross banks’ assets rose 1.3 per cent month-on-month to Dhs5.815 trillion.

Gross credit increased by Dhs36.7 billion, or 1.3 per cent, to Dhs2.908 trillion, driven by a 1.6 per cent rise in domestic credit to around Dhs2.305 trillion.

Bank deposits increased 0.9 per cent from around Dhs3.535 trillion at the end of August to approximately Dhs3.568 trillion at the end of September.

Resident deposits rose 0.6 per cent to Dhs3.25 trillion, while non-resident deposits increased 4.1 per cent to Dhs317.9 billion.

Deposits of government-related entities rose 9.6 per cent to Dhs378.2 billion, contributing around one percentage point to the monthly growth in resident deposits.

Deposits of other financial corporations also increased 7.2 per cent to Dhs66.2 billion.

Private-sector deposits remained stable at Dhs2.345 trillion, while government-sector deposits stood unchanged at Dhs460.4 billion.

Banking operations data for the first nine months of 2026 showed that the value of bank transfers reached around Dhs21.734 trillion, including Dhs13.351 trillion in transfers carried out by banks and around Dhs8.383 trillion in transfers made by customers. More than 16.241 million cheques were cleared during the period, with a total value exceeding Dhs990.5 billion.

Emirates NBD teams up with JP Morgan: Emirates NBD has announced that it has signed a Memorandum of Understanding (MoU) with JP Morgan Asset Management, to help advance and develop digital wealth and investment solutions for its customers.

The MoU creates a framework for the organisations to explore making J.P. Morgan Asset Management’s active ETFs available through Emirates NBD’s digital wealth architecture, broadening investor access to diversified international markets.

The initiative also aims to elevate investor education and engagement through co-curated content, market insights and interactive digital tools.

The deal brings together Emirates NBD’s regional footprint and growing digital wealth capabilities with JP Morgan Asset Management’s global investment expertise and market-leading, innovative active ETF offering.

Raed AlJaser, Head of Wealth Management at Emirates NBD, said, “We are pleased to collaborate with JP Morgan Asset Management as we continue to develop our digital wealth proposition. Together, we aim to bridge regional demand with global market opportunities, enhance the digital customer experience and provide our customers with the actionable intelligence required to achieve their financial goals.” “Opening new pathways for growth advances financial evolution and accelerates Dubai’s momentum in becoming a leading global financial hub, in line with the Dubai Economic Agenda (D33),” he stated.

The collaboration will explore opportunities to make JP Morgan Asset Management’s active ETFs available through Emirates NBD’s digital investment platforms.

The firms will also consider joint investor education, market insights, digital content, webcasts, events and initiatives designed to support customer awareness and engagement.

“Digital platforms are transforming how customers access investments, engage with markets and build long-term wealth,” remarked Claude Kurzo, Head of Mena at JP Morgan Asset Management.

“Emirates NBD has built a leading banking and digital franchise in one of the world’s most dynamic wealth markets. By combining its regional reach and understanding of customers with JP Morgan Asset Management’s global investment expertise, digital experience and its Market Insights programme, we have a unique opportunity to develop compelling solutions that support the evolving needs of investors in the UAE,” he added.

WAM