The UAE banking sector recorded AED9.528 trillion ($2.6 trillion) in transfers through the UAE Funds Transfer System (UAEFTS) during the first five months of this year.

According to the Banking Operations Statistics released on Tuesday by the Central Bank of the UAE (CBUAE), banks accounted for AED5.963 trillion ($1.6 trillion) of the total, with monthly transfers amounting to AED1.1 trillion in January, AED983.99 billion in February, AED1.238 trillion in March, AED1.273 trillion in April, and AED1.089 trillion in May.

In addition, customer transfers exceeded AED3.834 trillion ($1 trillion) over the same period, broken down as AED677.65 billion in January, AED649.48 billion in February, AED791.313 billion in March, AED879.94 billion in April, and AED836.157 billion in May.

In regard to cheques, the May banking operations data showed that the value of cheques cleared through image-based processing surpassed AED603.161 billion in the first five months of the year, with nearly 9.6 million cheques cleared in total.

In May alone, cheque clearances totalled AED131.49 billion, covering more than 2 million cheques, Economy Middle East reports.

Central Bank data also showed that during the first five months of the year, cash withdrawals from the Central Bank reached AED99.791 billion, while cash deposits stood at AED83.9 billion.

Furthermore, the Central Bank’s latest banking indicators showed that the value of banks’ investments grew by 1.8% month-on-month and 7.2% year-to-date, reaching AED788 billion at the end of May. This compares with AED774.3 billion at the end of April and AED734.8 billion at the close of the previous year.

Moreover, according to recent Central Bank data, the UAE banking sector posted strong growth in April 2025, with total assets surpassing AED4.749 trillion, up 0.6% from the previous month.

Total bank credit climbed to AED2.259 trillion, driven by higher lending to the government, public, and private sectors. Bank deposits also rose to AED2.965 trillion, supported by an almost 11% increase in non-resident deposits, which reached AED275.6 billion.

These gains highlight the sector’s solid liquidity and resilience amid evolving economic conditions.

Investment activity in the UAE banking sector continued to show strength, with total investments reaching AED774.3 billion by April 2025, marking a 16.2% increase from a year earlier.

Debt securities made up the largest share at AED352.4 billion, followed by AED345.8 billion in securities held to maturity. Banks also diversified into other assets, with AED19.3 billion invested in stocks and AED56.8 billion in various instruments.

Abu Dhabi and Dubai led this growth, underscoring their central role in shaping the country’s financial landscape.