Monday 30 January 2023 - 6:30:10 pm

UAE banks’ investments totalled AED511 billion in November 2022, highest in 13 months


ABU DHABI, 25th January, 2023 (WAM) -- The investments of banks operating in the UAE exceeded AED511 billion at the end of November 2022, the highest level in 13 months, according to the latest statistics of the Central Bank of the UAE (CBUAE).

The CBUAE's statistics – in its banking indicators report issued today – also showed an annual increase of 7.7 percent, equivalent to AED36.6 billion, reaching a total of AED511 billion at the end of November, compared to AED474.5 billion in November 2021.

Banks’ investments rose in the first eleven months of 2022 by AED37.9 billion or 8 percent, compared to AED473.2 billion at the end of December 2021, while rising monthly by 3.5 percent, equivalent to AED17.4 billion, compared to AED493.7 billion in October 2022.

According to central bank’s statistics, securities that are debts to third parties, or bonds, accounted for the largest share of banks’ investments by more than 49.1 percent, reaching AED250.9 billion at the end of November, an increase of 4.5 percent on a monthly basis, compared to AED240.1 billion in the previous year.

The share of banks’ investments in securities held to maturity amounted to some 39.3 percent of total investments, reaching AED200.8 billion at the end of November 2022. This was an annual increase of 76 percent compared to 114 billion in November 2021, and a monthly increase of some 2.9 percent compared to AED195.1 billion in October 2022.

The banks’ investments in stocks totalled AED12.2 billion in November 2022, a monthly increase of around 4.3 percent, compared to some AED11.7 billion in October 2022. It also decreased on an annual basis by around 12.9 percent.

The statistics also showed that the other banks’ investments totalled AED47.2 billion at the end of last November. This was an annual increase of 4.7 percent, compared to AED45.1 billion in November 2021, and a monthly increase of 0.85 percent, compared to AED46.8 billion in October 2022, as well as an increase of 10.8 percent over the first 11 months of 2022, compared to about AED42.6 billion in December 2021.

Hazem Hussein/ Khoder Nashar