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Emirates News Agency – UAE banks’ total capital, reserves up 10% at end-April

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ABU DHABI, 23rd June, 2023 (WAM) — The total capital and reserves of UAE banks rose by 10% year-on-year from AED395.9 billion to AED435.3 billion by April 2023, according to the UAE Central Bank. Monthly report of the Bank of China (CBUAE) on monetary, banking and financial developments until April 2022.

The report stated that NBN accounted for 86.4% of the total capital and reserves of UAE banks at AED376.1 billion at the end of April 2023, compared to AED341.5 billion at the end of April 2022, representing a year-on-year increase of 10.1%.

As of the end of April 2023, foreign banks accounted for 13.6% of the total capital and reserves of UAE banks, reaching AED59.2 billion, an increase of 8.8% year-on-year from AED54.4 billion in April 2022.

Total capital and reserves of banks operating in the emirates of Dubai and Abu Dhabi increased by 11.4% and 9.9% year-on-year to AED210.3 billion and AED192.3 billion respectively as of the end of April last year, while total capital and reserves rose year-on-year, respectively. 11.4% and 9.9%. The number of banks operating in other emirates was AED 32.7 billion, up 1.6% year-on-year.

Tariq Al Faham / Amjad Saleh

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