UAE-Based Banks' Total Capital And Reserves Reached Dhs476.6 Billion.

The Central Bank of the UAE (CBUAE) released its most recent statistics, which show that as of the end of March 2024, the total capital and reserves of banks operating in the UAE were Dhs476.6 billion. The capital and reserves of the nation’s banks increased year over year (YoY) by roughly Dhs45.9 billion, or 10.7%, compared to March 2023, when they were roughly Dhs430.7 billion.

According to the Central Bank, national banks held roughly 85.5% of the capital and reserves of UAE-based banks. As of the end of March 2024, they had Dhs407.7 billion total, up 10.2% year over year from Dhs370.1 billion in March 2023.

At the end of March 2024, the value of foreign banks’ capital and reserves stood at Dhs68.9 billion, a YoY increase of roughly 13.7% from Dhs60.6 billion in March 2023. This represents the share of foreign banks to all banks operating in the country, which is 14.5%. The total capital and reserves of banks operating in the Emirate of Dubai at the end of March 2024 were Dhs235.2 billion, representing a YoY increase of 12.9%.

According to a CBUAE report that was made public on Wednesday, the Central Bank of the UAE’s (CBUAE) balance sheet reached a record Dhs771.23 billion by the end of March 2024, representing a 30% YoY increase from roughly Dhs594.12 billion in March 2023. The apex bank’s monthly balance sheet increased from Dhs747.62 billion in February 2024 to Dhs23.6 billion, or 3.2 percent.

Based on the data, the Central Bank’s balance sheet assets were distributed as follows: in February, Dhs359.04 billion was allocated for cash and bank balances; approximately Dhs216.21 billion was invested; Dhs158.46 billion was in deposits; Dhs1.73 billion was in loans and advances; and Dhs35.79 billion was allocated for other assets.