UAE Banking Sector’s Liquid Assets Reach AED 801.5 Billion by End of Q2 2024

UAE, 17 September, 2024 : The liquid assets of the UAE’s banking sector surpassed AED 800 billion by the end of Q2 2024, reaching AED 801.52 billion, according to the Central Bank of the UAE (CBUAE). This represents a 20.2% year-on-year increase from AED 666.6 billion in Q2 2023 and a 2% quarter-on-quarter rise from AED 786.6 billion in Q1 2024.

The liquid assets now account for 18.9% of the banking sector's total assets of AED 4.244 billion, up slightly from 18.8% in Q1 2024. The sector remains well-capitalized, with a total capital adequacy ratio of 18.3%, surpassing the minimum requirement of 13% set by Basel III guidelines.

The Tier 1 Capital Ratio stands at 17% and the Common Equity Tier 1 capital ratio is at 15.3%, both showing improvements from previous quarters. These ratios reflect a strong and stable banking sector, crucial for maintaining financial system stability.

Source : www.zawya.com