By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Capital and reserves of UAE banks surpass Dh495 billion
Share
Notification Show More
Latest News
Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Gulf > UAE > Capital and reserves of UAE banks surpass Dh495 billion
UAE

Capital and reserves of UAE banks surpass Dh495 billion

News Room
Last updated: 2024/09/12 at 10:43 PM
News Room
Share
3 Min Read
SHARE

The UAE’s banking sector continues to show growth and resilience as the capital and reserves of banks operating in the country reached Dh495.2 billion at the end of June 2024, representing a 10.6% increase compared to the previous year. According to the Central Bank of the UAE (CBUAE), this growth is attributed to a monthly increase of 1.5% and a first-half increase of 1.2% in 2024.

The CBUAE clarified that the capital and reserves of banks do not include subordinated borrowings/deposits but do incorporate the profits earned within the current year. National banks contributed significantly to the total capital and reserves, accounting for 86.3% with a value of Dh427.5 billion. Foreign banks also played a role, representing 13.7% of the total capital and reserves with a value of Dh67.7 billion.

Furthermore, the statistics released by the Central Bank revealed that the investments of banks operating in the UAE exceeded Dh680 billion at the end of June, marking a record high. Investments increased by 18.4% year-on-year, reaching Dh680.2 billion compared to Dh574.3 billion in June 2023. On a monthly basis, investments saw a 1.07% increase, while the first half of the year witnessed a 7.1% rise, indicating a positive trend in the sector.

Bonds held to maturity made up the largest share of banks’ investments at 48.8% with Dh332.2 billion, showing a month-on-month increase of 0.1% and a year-on-year increase of 26.2%. Investments in securities representing third-party debt accounted for 41.1% of total investments with Dh279.6 billion at the end of June, registering a 2% monthly increase and a 12.5% year-on-year increase.

Additionally, banks’ investments in equities reached Dh16.7 billion in June, reflecting a 38% year-on-year increase and a 1.8% monthly increase. Other investments by banks amounted to 51.7% with a 2.2% monthly increase and a 2.6% year-on-year increase. It is important to note that banks’ investments do not include deposits with the Central Bank in the form of Certificates of Deposit and Monetary Bills.

In conclusion, the UAE’s banking sector is showing robust growth and stability, with an increase in capital and reserves as well as investments. The strong performance of national and foreign banks in the country is a positive indicator of the overall financial health of the sector. The record-high investments in various asset classes further reflect confidence in the market and bode well for the future of the banking industry in the UAE. The continued growth and diversification of investments underscore the resilience and adaptability of the banking sector in the face of economic challenges.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room September 12, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Aramco Digital partners with Groq to construct the world’s biggest AI Inferencing Data Center
Next Article UAQ Free Trade Zone Outlines Robust Growth Strategy – News
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle July 14, 2025
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025

You Might also Like

UAE

The Myriad Redefines Student Living for a Mobile, Urban Generation

May 27, 2025
GulfUAE

Senkron Digital Showcases CyberPact Service at GISEC Global 2025

May 12, 2025
BusinessGulfUAE

Muhammad Umair Saeed: The Billionaire Tech Architect Powering AI, Drones, Blockchain & Cybersecurity from Dubai to the World

May 10, 2025
GulfUAE

Your Next Destination in Dubai: Mövenpick Hotel Apartments Downtown Dubai – The Perfect Choice for Your Stay

April 23, 2025
GulfUAE

Nexus Developer Announces the Launch of ‘Estrella’ to Set New Standards in Boutique Luxury Living in Majan, Dubai

April 23, 2025
GulfUAE

Moscow City Tourism Committee Brings ‘Moscow Tea Time’ to Dubai with 15 Cultural Venues

April 18, 2025
GulfUAE

Wassim Elassaad Inspires Innovation at Gratuso and Waz & Co-Management Consultancy

April 16, 2025
GulfUAE

The Central Bank of the UAE Awards Tap Payments a Full Payment Services License

April 8, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?