The Central Bank of the UAE (CBUAE) released new statistics showing that national banks increased their investments in local stock markets by Dhs4.4 billion over a year.
According to Central Bank statistics, national banks increased their equity investments to Dhs16.1 billion at the end of May. This represents a 37.6% year-over-year (YoY) increase from Dhs11.7 billion in May 2023.
By the end of May, foreign banks had invested Dhs300 million in local stock markets, up 50% or Dhs100 million from Dhs200 million in May 2023.
The figures show that traditional banks had Dhs14.2 billion invested in local stock markets at the end of May, up 52.7 percent YoY, or Dhs4.9 billion, from Dhs9.3 billion in May 2023. As of the end of May, the Islamic banks’ holdings in local stock markets totalled Dhs2.2 billion, a 15.4% decline from Dhs2.6 billion in May 2023.
Based on data from the CBUAE, as of the end of May 2024, the Abu Dhabi banks had invested approximately Dhs11.4 billion in local stock markets, Dubai banks had invested Dhs2.2 billion, and the share of banks in other emirates was approximately Dhs2.8 billion.
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