The highest in its history… 574 billion dirhams of investments by UAE banks at the end of June

Aug 22

The investments of banks operating in the country exceeded 574 billion dirhams at the end of last June, achieving the highest level in its history, according to the latest statistics of the UAE Central Bank.

Central Bank statistics issued in the banking indicators report showed an increase in the investments of banks operating in the country on an annual basis, by 18.1%, to reach 574.3 billion dirhams at the end of last June, an increase equivalent to 88 billion dirhams, compared to about 486.4 billion dirhams in June 2022.

According to the Central Bank, bank investments increased on a monthly basis by 2.8%, compared to 558.6 billion dirhams last May, an increase equivalent to 15.7 billion dirhams in one month, while it increased during the first half of this year by 46.9 billion dirhams, or 8.9%, compared to about 527.4 billion dirhams at the end of last year.

The bonds held to maturity accounted for the largest share of bank investments by about 46%, reaching 263.3 billion dirhams at the end of last June, an increase on a monthly basis by 4.8% compared to 251.3 billion dirhams last May.

The share of banks’ investments in securities that represent debts to others, “debt securities”, amounted to about 43% of total investments, reaching 248.5 billion dirhams at the end of last June, an increase on a monthly basis of about 1.4%, compared to 245.1 billion dirhams in May 2023.

Banks’ investments in stocks reached 12.1 billion dirhams at the end of last June, an increase on a monthly basis by 1.7% compared to 11.9 billion dirhams in May 2023, while it increased during the first half of this year by 2.54% compared to 11.8 billion dirhams in December 2022.

According to the “Central” statistics, other investments of banks amounted to about 50.4 billion dirhams at the end of last June, an increase on a monthly basis by 0.2% compared to about 50.3 billion dirhams last May, and an increase on an annual basis of about 12.7% compared to 44.7 billion dirhams at the end of 2022. It is mentioned Bank investments do not include depositing the bank with the Central Bank in the form of certificates of deposit and cash drafts.