The latest data from the Central Bank of the UAE reveals that the total capital and reserves of banks in the UAE surged to Dh500 billion by January 2024, marking a yearly surge of Dh58.2 billion, or 13.3%. On a monthly basis, the increase amounted to 1.7%, rising from Dh488.7 billion in December 2023 to Dh500 billion in January 2024.
National banks dominated, contributing 86.5% of the combined capital and reserves, totaling Dh429.4 billion, a 13.2% annual increase from Dh379.3 billion in January 2023. Meanwhile, foreign banks accounted for 14% of the total, with Dh67.4 billion, witnessing a 13.7% annual rise from Dh59.3 billion.
In terms of location, Dubai's banks amassed Dh243.6 billion in capital and reserves, growing annually by 15.4%, while Abu Dhabi's banks reached Dh215.2 billion, up by 10.4%. Other emirates collectively recorded Dh38 billion, marking a 16.2% annual increase.
Conventional banks in the UAE accumulated Dh417.2 billion in capital and reserves, climbing by 13.8% annually, whereas Islamic banks reached Dh79.6 billion, reflecting a 10.4% annual increase.
#breakingnews #worldnews #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworackdnn #UAEbanks #BankingStatistics #CapitalAndReserves #CBUAE #FinancialGrowth #NationalBanks #ForeignBanks #DubaiBanks #AbuDhabiBanks #EmiratesBanking #ConventionalBanks #IslamicBanks
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