Here’s how much UAE banks totally invested in 2022

March 3, 2023 567

The investments increased by 3.25 per cent or Dhs16.6bn on a monthly basis

The Central Bank of the UAE (CBUAE) has released figures revealing that the total investments of banks operating in the country reached Dhs528bn at the end of December 2022.

This represents an 11.5 per cent annual increase or Dhs54.5bn compared to the same period in the previous year, when the total investments were Dhs473.2bn, reported the state news agency, WAM.

The investments of banks operating in the UAE also rose by 3.25 per cent or Dhs16.6bn on a monthly basis, increasing from Dhs511.1bn in November 2022 to Dhs527.7bn in December 2022.

Key highlights of UAE banks

Bonds were the largest component of the banks’ investments, accounting for 49 per cent or Dhs258.5bn at the end of December. This represents a 3.03 per cent monthly increase compared to Dhs250.9bn in November 2022, WAM reported.

The share of banks’ investments in securities held to maturity amounted to 39.6 per cent of the total or Dhs208.9bn at the end of December, a significant 77.3 per cent annual increase compared to Dhs117.8bn in December 2021.

Other investments of banks totalled Dhs48.3bn at the end of December, an annual rise of 13.4 per cent compared to Dhs42.6bn in December 2021. This represents a 2.3 per cent monthly increase compared to Dhs47.2bn in November 2022.

In related news, CBUAE announced that saving deposits in the UAE banking system, excluding interbank deposits, increased to Dhs246.61bn at the end of November last year.

This represents a growth of approximately Dhs7.21bn, or 3 per cent, from about Dhs239.4bn in November 2021, as per statistics shared by the central bank.

Saving deposits increased during the first 11 months of 2022 by 1.98 per cent, compared to about Dhs241.82bn at the end of 2021, an increase equal to Dhs4.8 billion. On a monthly basis, they grew by 0.06 per cent, compared to about Dhs246.48bn in October 2022, according to the statistics of the apex bank.

CBUAE also announced that gross banks’ assets, including bankers’ acceptances, increased by 0.7 per cent, rising from Dhs3.615tn at the end of October 2022 to Dhs3.639tn at the end of November 2022.