United Arab Emirates – The total capital and reserves of banks operating in the Emirates touched the barrier of 500 billion dirhams (regarding 136.2 billion dollars) at the end of January 2024, according to the latest Central Bank statistics.
The capital and reserves of banks operating in the UAE increased on an annual basis by regarding 58.2 billion dirhams, or 13.3%, to reach 496.8 billion dirhams at the end of last January, compared to regarding 438.6 billion dirhams in January 2023.
The Central Bank of the Emirates stated that the capital and reserves of banks increased on a monthly basis by 1.7%, compared to 488.7 billion dirhams in December 2023, an increase equivalent to regarding 8.1 billion dirhams.
The Central Bank explained that banks’ capital and reserves do not include loans and secondary deposits, but they include profits for the current year.
According to the UAE Central Bank, national banks acquired regarding 86.5% of the total capital and reserves of banks operating in the country, with their value reaching 429.4 billion dirhams at the end of last January, an increase on an annual basis of 13.2%, compared to regarding 379.3 billion dirhams in January 2023.
The share of foreign banks reached 14% of the total capital and reserves of banks operating in the country, with their value reaching 67.4 billion dirhams at the end of last January, an increase on an annual basis of regarding 13.7%, compared to regarding 59.3 billion dirhams in January 2023.
($1 = 3.67 UAE dirhams)
Source: WAM
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2024-04-05 22:43:04
