Banks hire 317 new employees in June

Banks operating in the country appointed 317 new key employees during last June alone, after the number of employees remained stable throughout the first five months of this year.

The latest data issued by the Central Bank yesterday showed that about 94% of the new appointments were made in national banks, amounting to 299 employees, while their foreign counterparts employed the remaining share, amounting to 18 employees, indicating that these appointments are the first since last December.

According to the data, the total number of main bank employees reached 37,811 employees by the end of last June, compared to 37,494 employees by the end of the previous May.

The number of employees working in national banks at the end of last June reached 31,628 employees, compared to 31,329 employees at the end of the previous May, an increase of 299 employees, while their total number in foreign banks at the end of the comparison month reached 6,183 employees, compared to 6,165 employees at the end of May, an increase of 18 employees during the month.

Commenting on this, a banking source told Al-Emarat Al-Youm, who preferred not to be named, that most banks have already opened the door to hiring, with priority given to citizens, in accordance with the instructions of the Central Bank, noting that opportunities are expected to increase in the coming months, in line with the Emiratisation strategy that has been in place for several years.

The source added that the banking sector in the country is the largest employer of citizens, stressing that the percentage is increasing, as banks have fruitful cooperation with universities and training centers to attract young graduates and also those with experience.

He explained that there was a previous problem that hindered the citizen’s continuity in the banking sector, related to the retirement system, but now it has been resolved, and there is more flexibility in working hours, which has created a good attractive environment for citizens of both genders.

According to the data, the Central Bank’s gold balance at the end of June decreased to 20 billion and 467 million dirhams, compared to 20 billion and 619 million dirhams at the end of the previous May, a decrease of 152 million dirhams.

Personal loans for consumer purposes recorded a significant increase, reaching 460.4 billion dirhams by the end of last June, compared to 440 billion dirhams, an increase of 20.4 billion dirhams during the month.

Financial transfers in the banking sector through the Central Bank system amounted to AED 9.4 trillion during the first half of this year, a growth of 16%, compared to transfers worth about AED 8.01 trillion during the same period last year.

Transfers during the monitoring period were distributed between 5.829 trillion dirhams of transfers between banks, and 3.49 trillion dirhams of transfers between bank clients.

The value of cheques cleared using their scanned images through the Central Bank system by the end of the first half of this year amounted to AED 646.4 billion for 11 million cheques, while cash withdrawals from the Central Bank amounted to AED 103 billion, offset by deposits worth AED 93.6 billion, during the first six months of 2024.

• AED 9.4 trillion in financial transfers in the banking sector during the first half.

The growth of the sector’s international reserves is 8.1%.

The net international reserves of the UAE banking sector increased by 8.1%, or AED 92.3 billion, during the first half of this year, reaching AED 1.238 trillion at the end of last June, compared to about AED 1.145 trillion at the end of 2023.

Data from the Central Bank of the UAE showed that the Central Bank acquired about 769.7 billion dirhams of the sector’s net international reserves by the end of last June, an increase of 14.3%, compared to its balance of 673.42 billion dirhams at the end of last year, while the net international reserves of banks operating in the country reached 468.13 billion dirhams at the end of last June.