UAE Central Bank assets surge to $109bn in 12 months
The total assets of UAE Central Bank rose to Dh398.6 billion ($108.5 billion) in 12 months until February 2018, up by more than Dh33.78 billion. The assets were Dh364.82 billion in the same period last year, said a report.
The Central Bank's balance sheet went up by Dh7 billion in February, from a total of Dh391.54 billion in January, reported state news agency Wam citing the Central Bank Bulletin.
The growth in Central Bank's assets is attributed to the increase in banks' deposits, up by Dh25.68 billion in annual terms, and by Dh11.42 in monthly term, leading the total balance to jump to Dh102.64 billion by the end of February, said the report.
Loans and advances dropped from Dh3.2 billion at the end of February 2017, to Dh3.13 billion during the same period in this year, it added.
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