The number of depositors at commercial banks in the United Arab Emirates has shown a mix of growth and decline over the past decade. From a dip in 2015, the trend saw significant growth particularly in 2016 and 2020, indicating a positive banking environment. In 2023, the figure stood at 1.2 million persons per million persons, demonstrating a year-on-year increase of 1.29%. Over the last five years, the CAGR was 2.12%, reflecting steady growth with occasional dips, most notably in 2021.
Looking forward, the projected figures suggest a slower growth rate with a 5-year forecast CAGR of 0.52%. Future trends to watch include potential effects of digital banking innovations, regulatory changes, and economic fluctuations within the region. Additionally, the impact of technological adoption and shifts in consumer behavior towards banking services will be crucial in shaping the number of depositors in the UAE.
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