10 September 2026
UAE banks’ total assets rose 1.3% in July 2026 to AED 5,669.1 billion, about USD 1.54 trillion, and gross credit grew by AED 41.2 billion, or 1.5%, to AED 2,798.9 billion, according to the Central Bank of the UAE (CBUAE) Monetary and Banking Developments report for July 2026, released on Wednesday 9 September 2026. The fastest-growing line in the loan book was credit to individuals: up 2.3%, or AED 13.9 billion, in one month. That is more than double the AED 6.8 billion individuals added in June, and more than the AED 10.9 billion added by corporate borrowers in July. Total deposits rose 1.1% to AED 3,509.8 billion, and non-resident deposits grew 6.8% to AED 311.4 billion.
July 2026 in numbers: the CBUAE report
The CBUAE publishes Monetary and Banking Developments every month. The July edition covers balances at the end of July 2026 and was released about six weeks after month-end. The table below collects the headline figures; all amounts are in AED, as reported by the central bank.
| Indicator | End of July 2026 | Change in July |
|---|---|---|
| Gross bank assets | AED 5,669.1 billion | +1.3% |
| Gross credit | AED 2,798.9 billion | +AED 41.2 billion (+1.5%) |
| Domestic credit | AED 2,206.0 billion | +1.4% |
| Foreign credit | AED 592.9 billion | +1.8% |
| Credit to individuals | Not stated in the release | +AED 13.9 billion (+2.3%) |
| Credit to corporates | Not stated in the release | +AED 10.9 billion (+1.1%) |
| Credit to government | Not stated in the release | +AED 4.2 billion (+1.7%) |
| Total bank deposits | AED 3,509.8 billion | +1.1% |
| Resident deposits | AED 3,198.4 billion | +0.5% |
| Non-resident deposits | AED 311.4 billion | +6.8% |
| Money supply M3 | AED 3,440.8 billion | +0.4% |
| Monetary base | AED 792.7 billion | +1.2% |
Individuals borrowed more than companies in July
The CBUAE says the expansion of domestic credit in July was driven mainly by lending to the private sector, and inside the private sector individuals led. Credit to individuals rose 2.3%, or AED 13.9 billion, and contributed 0.6 percentage points to domestic credit growth. Credit to corporates rose 1.1%, or AED 10.9 billion, contributing 0.5 percentage points. Lending to the government grew 1.7%, or AED 4.2 billion, adding 0.2 percentage points.
The comparison needs one caveat: the two books are not the same size. The release gives growth rates and amounts but not outstanding balances. Dividing the reported amounts by the reported percentages, the individual loan book at the start of July works out at roughly AED 0.6 trillion and the corporate book at roughly AED 1 trillion. This is our estimate, and the rounding of the percentages makes it approximate. On those numbers, the smaller book added AED 3 billion more than the larger one in a single month.
The pace also changed quickly. In June, credit to individuals rose by AED 6.8 billion and contributed 0.3 percentage points to domestic credit growth, as we reported in our analysis of the June 2026 lending data. In July the monthly amount more than doubled, and the contribution doubled from 0.3 to 0.6 percentage points.
What the release does not say matters as much. It gives no split of credit to individuals by product, so it does not show how much of the AED 13.9 billion went into mortgages, personal loans, car loans or credit cards. It gives no split by emirate or by nationality either. Any claim that one product drove the July figure goes beyond the published data.
The growth engine moved back home
June and July show two different patterns. In June, foreign credit was the main driver: lending booked outside the UAE rose AED 19.9 billion, or 3.5%, to AED 582.4 billion, while domestic credit added only AED 4.8 billion. In July the balance reversed. Domestic credit rose 1.4% to AED 2,206.0 billion and contributed 1.1 percentage points to gross credit growth; foreign credit rose 1.8% to AED 592.9 billion and contributed 0.4 percentage points.
In amounts, using the end-of-June balances, domestic credit grew by about AED 30.5 billion in July and foreign credit by about AED 10.5 billion (our calculation). In June the home market was the smaller source of new lending; in July it provided about three quarters of it.
These central bank figures should not be mixed with bank-group results. The CBUAE counts lending by banks operating in the UAE. Company reports and sector reviews, such as the Kamco Invest review in which UAE banks led the GCC in the second quarter of 2026, consolidate listed banking groups together with their foreign subsidiaries. Both are correct on their own basis, but they measure different things.
Deposits: more than half of July’s inflow came from non-residents
Total deposits in UAE banks rose 1.1% from AED 3,472.8 billion at the end of June to AED 3,509.8 billion at the end of July, an increase of AED 37.0 billion. Resident deposits increased 0.5% to AED 3,198.4 billion. Non-resident deposits rose 6.8% to AED 311.4 billion, the fastest growth among the deposit lines with a reported change. From the June balance of AED 291.5 billion, that is about AED 20 billion of new non-resident money, or more than half of the month’s total deposit growth (our calculation).
Inside resident deposits, the private sector gave the largest contribution: private sector deposits rose 0.7% to AED 2,344.4 billion and added 0.5 percentage points. Deposits of government-related entities rose 3.7% to AED 347.3 billion and added 0.4 percentage points. Deposits of other financial corporations stood at AED 61.3 billion and government sector deposits at AED 445.4 billion.
Two ratios follow from these figures. Deposits exceed gross credit by about AED 711 billion, and gross credit equals about 79.7% of deposits, up from about 79.4% at the end of June, because credit grew slightly faster than deposits in July (both our calculations on CBUAE data). This gross ratio is not the same as the net loans-to-deposits ratio that analysts calculate for listed banks. For individuals, the two sides of the balance sheet moved at different speeds: individual deposits rose only 0.2% to AED 896.5 billion, roughly AED 1.8 billion, against AED 13.9 billion of new credit to individuals in the same month.
Money supply and liquidity
All three money supply measures rose in July. M1 increased 0.7% to AED 1,047.4 billion, with currency in circulation outside banks at AED 159.2 billion and monetary deposits up 0.9% to AED 888.1 billion. M2 rose 0.8% to AED 2,900.3 billion, which the CBUAE attributes to higher corporate deposits (+0.9%) and deposits of government-related entities (+3.7%). M3 rose 0.4% to AED 3,440.8 billion, with corporate and government-related deposits contributing equally and individual deposits also adding to growth.
The monetary base grew 1.2% to AED 792.7 billion. Reserve balances that UAE banks hold with the central bank rose 4.7% to AED 256.9 billion during the month.
What the July data means for businesses in the UAE
First, the limits. The July report is a statistical release. On 9 September 2026 no interest rate, fee, lending rule or account-opening requirement changed, and there is nothing to file or comply with because of it. What the report does offer is a measured picture of where bank money went in July. For companies working in the UAE, five points are practical.
- Retail credit is the fastest-growing channel. If your customers are UAE residents who finance purchases, July added AED 13.9 billion of new credit to individuals, the largest monthly amount among the domestic borrower groups named in the report.
- Companies are still borrowing. Corporate credit grew by AED 10.9 billion, or 1.1%, in July. For a company applying for working capital or trade finance, a complete credit file (trade licence, financial statements, bank statements, key contracts) remains the part of the process it controls.
- Liquidity is not the bottleneck. Deposits exceed gross credit by about AED 711 billion. A bank’s decision on a specific company turns on its file and the compliance review, not on the volume of money in the system.
- Non-resident money keeps arriving. Non-resident deposits rose 6.8% in one month. For foreign owners this is a signal about the market, not a shortcut: opening a corporate account still depends on KYC, beneficial ownership and source-of-funds documents. Our bank account opening service prepares that file.
- Retail credit products keep changing. Since July, the market has added new formats, from fully paperless personal loans at FAB to mortgages on off-plan homes in Abu Dhabi. These launches came after the reporting month, so they do not explain the July figure.
How Atlant Capital can help
Atlant Capital works with founders and companies entering or expanding in the UAE. We handle company setup on the mainland and in free zones, corporate and personal bank account opening with a prepared KYC and source-of-funds file, and residence and work visas for owners, staff and their families. Accounting, audit, VAT and corporate tax work is handled by licensed accounting firms from our partner network. For companies that plan to apply for bank finance, we make sure the structure, the licence and the banking relationship are in place first.
Conclusion
July 2026 was a month of broad balance-sheet growth for UAE banks: assets up 1.3% to AED 5,669.1 billion, credit up AED 41.2 billion and deposits up AED 37.0 billion. The change sits in the detail. Credit to individuals more than doubled its monthly gain to AED 13.9 billion and overtook corporate lending, growth moved back to the domestic market after a June driven by foreign credit, and more than half of new deposits came from non-residents. None of this changes a rule, but it shows where UAE bank money went in July.
FAQ
What were total UAE bank assets in July 2026?
Gross assets of UAE banks reached AED 5,669.1 billion at the end of July 2026, up 1.3% in the month, which is about USD 1.54 trillion. The figure comes from the Central Bank of the UAE Monetary and Banking Developments report for July 2026, released on 9 September 2026.
How much did credit to individuals grow in the UAE in July 2026?
Credit to individuals rose 2.3%, or AED 13.9 billion, in July 2026 and contributed 0.6 percentage points to domestic credit growth. That is more than double the AED 6.8 billion added in June 2026 and more than the AED 10.9 billion added by corporate borrowers in July. The central bank does not split the figure by product.
How large is the UAE bank loan book in 2026?
Gross credit of UAE banks was AED 2,798.9 billion at the end of July 2026, after growth of AED 41.2 billion, or 1.5%, in the month. Domestic credit was AED 2,206.0 billion and foreign credit AED 592.9 billion. Total bank deposits were AED 3,509.8 billion.
Did the July 2026 central bank report change any banking rules?
No. Monetary and Banking Developments is a monthly statistical report. It did not change interest rates, fees, lending rules or account-opening requirements, and it creates no filing or compliance obligation for companies or residents. It is useful as a measure of where bank credit and deposits moved during the month.
