Friday 23 April 2021

UAE banking investments hit $90bn in 11 months

ABU DHABI, January 8, 2019

UAE banking investments were on the rise during first 11 months of 2018, amounting to Dh331.1 billion ($90.1 billion) by the end of November, a growth of 6.4 percent as compared to December 2017, a media report said.

Investment vehicles used by banks include securities, held-to-maturity bonds among other instruments, reported state news agency Wam, citing the Central Bank of the UAE statistics

According to the CBUAE figures, banking investments increased by 2.5 percent during Q1, bringing total investments to Dh319 billion by the end of March 2018.

During Q2, investments picked up by Dh7.00 billion to Dh326 billion. In October and November, a total of Dh 3.9 billion was invested, bringing the total balance to Dh331.1 billion.

Securities accounted for the largest share of investments at a total of Dh209 billion, while held-to-maturity bonds valued Dh80.7 billion. Circa Dh31.1 billion was invested across various instruments and Dh10.3 billion in equity investments.

Tags: Central Bank | UAE banking | investments |

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