UAE Banks' Capital and Reserves Reach AED 495.2 Billion, Investments Hit Record High

UAE, 13 September, 2024 : As of June 2024, the total capital and reserves of banks operating in the UAE have reached AED 495.2 billion, reflecting a 10.6% year-on-year increase from AED 447.8 billion in June 2023, according to Central Bank of the UAE (CBUAE) statistics. 

The figures reveal a monthly rise of 1.5% and a 1.2% increase in the first half of the year. National banks contributed 86.3% of the total, amounting to AED 427.5 billion, up 10.6% from AED 386.6 billion last year. Foreign banks held 13.7% of the total, with AED 67.7 billion, also marking a 10.6% increase.

The CBUAE also reported that bank investments exceeded AED 680 billion by June, an 18.4% increase from AED 574.3 billion in June 2023. This represents the highest level of investments in UAE history. Bonds held to maturity made up the largest share of investments at AED 332.2 billion, while investments in debt securities and equities also showed significant growth. 

The data underscores the robust financial health and growing investment capacity of UAE banks.

Source : www.zawya.com