The stability of the indices of reserves and allocations of the UAE banking system

Media In Abu Dhabi, 17 January 2019 (WAM)

 UAE’s reserves and provisions continued to stabilize in October and November 2018, a move that reflects the strength of the sector, which is the number one asset in the Middle East region, according to major international financial institutions.
According to figures published by the Central Bank of UAE (CBE), the activity of the banks has continued since the beginning of this year. The total assets jumped to AED 2.854 trillion at the end of November 2018, an increase of AED 166 billion compared to the same month last year. 2017.
According to official statistics, the mandatory reserve for all banks in the UAE stood at AED 121.8 billion during October and November of 2018, as was the case for private and public provisions of AED 123.2 billion during the same period.
In terms of capital and other reserves of different types of banking system, it reached 353.6 billion dirhams at the end of November 2018 compared to 337.3 billion dirhams in the same month of 2017.
With the outstanding performance of the sector, the ratio of loans to fixed assets stood at 82.9% at the end of the first 11 months of last year, while the ratio of qualified liquid assets reached 17%.
In terms of deposits with banks operating in the UAE, they rose to AED1.739 trillion at the end of November 2018. The value of loans extended to customers reached 1.653 trillion, reflecting the great advantage of deposits on credit, which is a sign of solvency. Strong banking system