UAE banks have more than 39,000 employees for first time since 2015

A monthly statistical bulletin, showed that as of the end of 2024, the total number of bank employees reached 39,046.

The sector saw a net increase of 878 new employees in 2024, reflecting a 2.3 per cent rise from 38,168 employees at the end of 2023.

UAE bank workers

Of the total workforce, 32,590 employees work in national banks, while 6,456 are employed by foreign banks operating in the UAE as of December 2024.

Meanwhile, the CBUAE’s gold bullion surged by 26.63 per cent in 2024, reaching AED22.981bn ($6.3bn) by year-end, up from AED18.147bn ($4.9bn) in 2023.

The bank’s demand deposits grew to exceed AED1.109tn ($302bn) by the end of 2024, with AED822.42bn ($224bn) held in local currency.

Savings deposits amounted to AED317.486bn ($86.4bn), of which nearly AED265bn ($72.2bn) was in local currency, while time deposits totalled AED945.75bn ($257.5bn), with approximately AED553.4bn ($150.7bn) in local currency.

The report also highlighted an increase in net international reserves of the UAE banking sector, surpassing AED1.446tn ($394bn) by the end of 2024, compared to AED1.145tn ($312bn) at the end of 2023.