Aggregate capital and reserves of banks operating in the UAE increased by 8.5% (y-o-y) to AED438.6 billion ($119.43 billion) at the end of January 2023 from AED404.3 billion at the end of January 2022.
This is according to the Central Bank of the UAE’s (CBUAE) monthly report on the monetary, banking & financial developments, a WAM report said.
The report noted that national banks accounted for 86.5% of the total capital and reserves of banks operating in the UAE, which stood at AED379.3 billion at the end of January 2023 compared AED350.2 billion at the end of January 2022, a y-o-y growth of 8.31%.
Share of foreign banks
Share of foreign banks in aggregate capital and reserves of banks operating in the UAE was 13.5 %, reaching AED59.3 billion at the end of January 2023, a y-o-y increase of 9.6 % compared with AED54.1 billion in January 2022.
At the end of last January, aggregate capital and reserves of banks operating in the emirates of Dubai and Abu Dhabi grew on a y-o-y basis of 9.5 % and 8.9 % to AED211 billion and AED194.9 billion respectively, while aggregate capital and reserves of banks operating in other emirates stood at AED32.7 billion.-- TradeArabia News Service
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