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Investments in UAE Banks Hit 620 Billion Dirhams, The Highest Level in Their History

Investments in banks operating in the United Arab Emirates surpassed the 620 billion Dirham mark at the end of last November 2023, reaching their highest level ever, according to the latest statistics from the Central Bank of the Emirates. 

This represents a 21.4% year-on-year increase, equivalent to 109.1 billion Dirhams, compared to approximately 511.1 billion Dirhams in November 2022.

According to the Central Bank of the UAE, bank investments increased by 3.2% on a monthly basis in November 2023, compared to 601 billion Dirhams in October 2023, an increase of 19.2 billion Dirhams in one month.

During the first 11 months of 2023, bank investments increased by 93 billion Dirhams, or 17.6%, compared to 527.4 billion dirhams at the end of 2022.

Reserved bonds accounted for the largest share of bank investments, reaching 302.2 billion Dirhams in November 2023, or 48.7% of total bank investments. This represents an increase of 2.93% from the previous month, when reserved bonds totaled 293.7 billion Dirhams.

Bank investments in debt securities, which represent loans to other parties, accounted for 41.4% of total investments, reaching 257.1 billion Dirhams in November 2023. This represents an increase of 4.4% from the previous month, when debt securities totaled 246.2 billion Dirhams.

Bank investments in stocks amounted to 12.3 billion Dirhams in November 2023, an increase of 1.65% from October 2023, when they totaled 12.1 billion Dirhams. This represents an increase of 4.2% from December 2022, when they totaled 11.8 billion Dirhams.

According to the Central Bank of the UAE, other bank investments reached 48.5 billion Dirhams in November 2023, an increase of 2.75% from November 2022, when they totaled 47.2 billion Dirhams.

In addition, in the monetary and banking developments report for November 2023, that total banking assets, including bank acceptance certificates, increased on a monthly basis by 0.8% to 4.026 trillion Dirhams at the end of last November, compared to about 3.996 trillion Dirhams in October 2023.

Moreover, according to the Organisation for Economic Co-operation and Development's 2022 Foreign Direct Investment report, net inflows to the UAE reached 22.736 million, investment increased rapidly in to 2023. However, the United States holds the top spot with 388,078 million , followed by China with 180.166 million and the UK with 44,126 million.

Edited by Chloe Mansola

Ministry of Finance Dubai by Serge Bystro is licensed under CC BY 2.0 DEED


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Tags: #UAE #Investments #Bank


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