The most recent figures from the Central Bank of the UAE (CBUAE) show that the total capital and reserves of banks operating in the UAE reached Dhs476.6 billion at the end of March 2024. The capital and reserves of the nation’s banks expanded year over year (YoY) from roughly Dhs430.7 billion in March 2023 to Dhs45.9 billion, or 10.7% more.
At the end of March 2024, a total of Dhs407.7 billion was recorded, a YoY increase of 10.2% from roughly Dhs370.1 billion in March 2023. According to the Central Bank, national banks accounted for approximately 85.5% of UAE-based banks’ total capital and reserves.
The value of foreign banks at the end of March 2024 was Dhs68.9 billion, a YoY increase of roughly 13.7% from Dhs60.6 billion in March 2023. This represents the share of foreign banks to the total capital and reserves of banks operating in the country, which reached 14.5%. At the end of March 2024, banks operating in the Emirate of Dubai had Dhs235.2 billion in total capital and reserves, representing a 12.9% YoY increase.
Amounts allocated to the Central Bank’s balance sheet assets in February, according to the statistics, were Dhs359.04 billion for cash and bank balances, roughly Dhs216.21 billion for investments, Dhs158.46 billion for deposits, Dhs1.73 billion for loans and advances, and Dhs35.79 billion for other assets.
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