0 billion capital and reserves of UAE banks at the end of March

The total capital and reserves of banks operating in the country reached 476.6 billion dirhams ($130 billion) at the end of March 2024, according to the latest statistics of the UAE Central Bank.

The capital and reserves of banks operating in the country increased on an annual basis by about 45.9 billion dirhams, or 10.7%, compared to about 430.7 billion dirhams in March 2023.

The Central Bank explained that banks’ capital and reserves do not include secondary loans/deposits, but they include profits for the current year.

According to the Central Bank, national banks acquired about 85.5% of the total capital and reserves of banks operating in the country, with their value reaching 407.7 billion dirhams at the end of last March, an increase on an annual basis of 10.2%, compared to about 370.1 billion dirhams in March 2023.

The share of foreign banks reached 14.5% of the total capital and reserves of banks operating in the country, with their value reaching 68.9 billion dirhams at the end of last March, an increase on an annual basis of about 13.7%, compared to about 60.6 billion dirhams in March 2023.

The Central Bank indicated that the capital and reserves of banks in the Emirate of Dubai reached 235.2 billion dirhams at the end of last March, with an annual growth of 12.9%, while the capital and reserves of banks in the Emirate of Abu Dhabi reached about 204 billion dirhams, an annual increase of 7.5%, and the capital and reserves of banks in the other emirates reached To about 37.4 billion dirhams, an annual increase of 14.4%.

The capital and reserves of conventional banks in the country recorded about 400.6 billion dirhams at the end of last March, an increase on an annual basis of 11%, while the capital and reserves of Islamic banks amounted to about 76 billion dirhams, an increase on an annual basis of about 9%. (wham)

By Editor

Leave a Reply