Media ININ Economy We Trust
Abu Dhabi on September 25
The total capital and reserves of banks operating in the country increased on an annual basis by about 48 billion dirhams, or 11.8%, to reach 454.9 billion dirhams at the end of last July, compared to about 406.9 billion dirhams at the end of July 2022.
The Central Bank of the Emirates stated in its monthly report that bank capital and reserves increased during the first seven months of this year by about 6.14%, or the equivalent of 26.3 billion dirhams, compared to 428.6 billion dirhams at the end of December of last year 2022, while it grew on a monthly basis by 1.6% compared to 447.8 billion dirhams last June.
The Central Bank explained that banks’ capital and reserves do not include loans/secondary deposits, but they include profits for the current year.
According to the Central Bank, national banks acquired about 86.4% of the total capital and reserves of banks operating in the country, with their value reaching 392.9 billion dirhams at the end of last July, an increase on an annual basis of 12% compared to about 350.8 billion dirhams in July 2022.
The share of foreign banks reached 13.6% of the total capital and reserves of banks operating in the country, with their value reaching 62 billion dirhams at the end of last June, an increase on an annual basis of about 10.5% compared to about 56.1 billion dirhams in July 2022.
The Central Bank indicated that the capital and reserves of banks in the Emirate of Dubai reached 219.8 billion dirhams at the end of last July, with an annual growth of 12.9%, while the capital and reserves of banks in the Emirate of Abu Dhabi reached about 200.2 billion dirhams, an annual increase of 10.8%, and the capital and reserves of banks in the other emirates reached about 34.9 billion. AED, with an annual increase of 10.4%.
The capital and reserves of conventional banks in the country recorded about 380.8 billion dirhams at the end of last July, an increase on an annual basis of 12%, while the capital and reserves of Islamic banks amounted to about 74.1 billion dirhams, an increase on an annual basis of about 10.8%.
