ABU DHABI, UAE – Aggregate capital and reserves of banks operating in the UAE rose by 10 percent year-on-year (YoY) to US$118.5 billion (AED435.3 billion) at the end of April 2023 from US$107 billion (AED395.9 billion) at the end of April 2022, according to the Central Bank of the UAE’s (CBUAE) monthly report.
The report,on the monetary, banking and financial developments, noted that national banks accounted for 86.4 percent of the total capital and reserves of banks operating in the UAE, which stood at US$102 billion (AED376.1 billion) at the end of April 2023 compared US$92.9 billion (AED341.5 billion) at the end of April 2022, a YoY growth of 10.1 percent.
Share of foreign banks in aggregate capital and reserves of banks operating in the UAE settled at 13.6 percent, reaching US$ 16 billion (AED59.2 billion) at the end of April 2023, a YoY increase of 8.8 percent compared with US$14.8 billion (AED54.4 billion) in April 2022.
At the end of last April, aggregate capital and reserves of banks operating in the emirates of Dubai and Abu Dhabi grew on a YoY basis of 11.4 percent and 9.9 percent to US$57 billion (AED210.3 billion) and US$52.3 billion (AED192.3 billion) respectively.
While aggregate capital and reserves of banks operating in other emirates stood at US$8.9 billion (AED32.7 billion), a YoY growth of 1.6 percent.
