Abu Dhabi: Investments of banks operating in the UAE reached Dh580 billion at the end of July 2023, the highest level in history, according to the latest statistics of the UAE Central Bank.
The data showed that investments increased by 18.8 per cent on an annual basis, from Dh487.7 billion in July 2022. On a monthly basis, investments were up 0.91 per cent, from Dh574.3 billion in June 2023.
Bonds held until maturity accounted for the largest share of banks’ investments, reaching Dh266.8 billion at the end of July 2023, an increase of 1.3 per cent from the previous month, when it was Dh263.3 billion. Debt securities, which represent debts owed to others, made up about 43 per cent of the total investments, reaching Dh249.9 billion at the end of July 2023, an increase of 0.6 per cent from Dh248.5 billion in June 2023.
Bank investments in stocks reached Dh12.5 billion at the end of July 2023, an increase of 3.3 per cent from the previous month, when it was Dh12.1 billion. During the first seven months of 2023, bank investments in stocks increased by 5.9 per cent, from Dh11.8 billion in December 2022.
According to Central Bank statistics, other investments by banks amounted to Dh50.3 billion at the end of July 2023, an increase of 12.5 per cent from Dh44.7 billion in July 2022.
It is noteworthy that bank investments do not include the bank’s deposit with the Central Bank in the form of certificates of deposit and cash bills.
