Aggregate capital, reserves of UAE-based banks increase to Dh500 billion by end of January 2024
National banks accounted for 86.5% of the aggregate capital, reserves of UAE-based banks
Abu Dhabi: The aggregate capital and reserves of banks operating in the United Arab Emirates (UAE) reached Dh500 billion at the end of January 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE).
This represents an annual increase of Dh58.2 billion, or 13.3 per cent, from Dh438.6 billion in January 2023.
On a monthly basis, capital and reserves increased by 1.7 per cent from Dh488.7 billion in December 2023, an increase of Dh8.1 billion.
National banks accounted for 86.5 per cent of the aggregate capital and reserves of the UAE-based banks, with a value of Dh429.4 billion at the end of January 2024. This represents an annual increase of 13.2 per cent, compared to Dh379.3 billion in January 2023.
Foreign banks accounted for 14 per cent of the aggregate capital and reserves of banks operating in the UAE, with a value of Dh67.4 billion at the end of January 2024. This represents an annual increase of 13.7 per cent, compared to Dh59.3 billion in January 2023.
The CBUAE also noted that the capital and reserves of banks in the Emirate of Dubai reached Dh243.6 billion at the end of January 2024, an annual growth of 15.4 per cent. The capital and reserves of banks in the Emirate of Abu Dhabi reached Dh215.2 billion, an annual increase of 10.4 per cent. The capital and reserves of banks in the other emirates reached Dh38 billion, an annual increase of 16.2 per cent.
The capital and reserves of conventional banks in the UAE reached Dh417.2 billion at the end of January 2024, an annual increase of 13.8 per cent. The capital and reserves of Islamic banks reached Dh79.6 billion, an annual increase of 10.4 per cent.