[ad_1]
Total capital and reserves of banks operating in the UAE increased by 8.5% year-on-year to AED438.6 billion (USD119.43 billion) at end-January 2023, from AED404.3 billion at end-January 2022.
This is based on the Central Bank of the UAE’s (CBUAE) monthly report on monetary, banking and financial developments, a WAM report said.
The report noted that the National Bank accounted for 86.5 percent of the total capital and reserves of UAE banks, at AED379.3 billion at the end of January 2023, compared to AED350.2 billion at the end of January 2022, an increase of 8.31 percent year-on-year.
Share of foreign banks
As of the end of January 2023, foreign banks accounted for 13.5% of the total capital and reserves of UAE banks, reaching AED 59.3 billion, an increase of 9.6% year-on-year from AED 54.1 billion in January 2022.
As of the end of January last year, the total capital and reserves of banks operating in the emirates of Dubai and Abu Dhabi increased by 9.5% and 8.9% year-on-year to AED 211 billion and AED 194.9 billion respectively, while the total capital and reserves of banks in other emirates The operating scale is 32.7 billion dirhams. — trade arab news agency
[ad_2]
Source link