According to the Central Bank of the UAE’s (CBUAE) report on Monetary & Banking Developments – January 2026, gross banks’ assets increased by 1.4% from Dhs 5,339.9 billion at the end of December 2025 to Dhs 5,413.6 billion at the end of January 2026. According to the study, gross credit climbed by 1.1%, from Dhs 2,570.3 billion at the end of December 2025 to Dhs 2,598.2 billion at the end of January 2026. Total credit growth was primarily driven by domestic credit growth (by Dhs 27.9 billion), which resulted in an increase in credit to the private sector of 0.6% (contributing 0.4 percentage point to total growth of 1.1%) and credit to the government sector of 2.5%. Domestic credit growth was restrained by a 5.7% fall in credit given to OFC, which contributed negatively (by 0.1 percentage point) to overall domestic credit growth.
Bank deposits rose by 0.9%, from Dhs 3,307.0 billion at the end of December 2025 to Dhs 3,336.8 billion at the end of January 2026. The increase in bank deposits was led by 1.2% growth in resident deposits, which reached Dhs 3,046.1 billion, while non-resident deposits fell by 2.4%, reaching Dhs 290.7 billion, with a negative contribution (-0.2 percentage points from the overall 0.9% total growth).
Within the resident deposits: private sector deposits climbed by 1.0% to 2,272.8 billion, while GRE deposits increased by 3.5% to Dhs 306.7 billion. At the same time, government sector deposits climbed by 2.0% to Dhs 401.3 billion, while Other Financial Corporation (OFC) deposits fell by 6.7% to Dhs 65.3 billion at the end of January 2026. The report also showed that the aggregate money supply M1 increased by 0.9%, from Dhs 1,071.5 billion at the end of December 2025 to Dhs 1,081.3 billion at the end of January 2026. The increase was driven by a 2.7% increase in money in circulation outside of banks and a 0.6% increase in monetary deposits.
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