Media ININ Economy We Trust
Media IN ABU DHABI, 3rd July, 2019 (WAM):
Emirati banks’ investments in Saudi Arabia and Egypt went up to AED 90.4 billion during the first quarter of 2019, which makes up 15.5% of the banks’ total investments abroad, data from the Central Bank of the UAE showed, according to the Emirates News Agency (WAM).
UAE banks’ investments in the UK reached AED 61 billion in Q1-2019, while assets invested in the Middle East and North Africa (MENA) AED 2.9 trillion in the same period.
According to WAM report, the UAE Central Bank’s statistics show that the value of investments of Emirati banks in Saudi Arabia reached AED 47 billion at the end of March 2019, while in Egypt it amounted to AED 43.4 billion, as well as $37 billion in the US.
Emirati banks in UK, Saudi Arabia, and India increased by AED 14.6 billion, AED 8.5 billion, and AED 3.9 billion, respectively, which listed them among the top 10 countries receiving investments from UAE banks.
