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Liquid assets up to Dh486.58 bn in Q1’21: UAE Central Bank

By TRENDS Desk
June 1, 2021 5:51 am

    • The steady growth in liquidity is a new sign of the gradual economic recovery

    • Liquid assets accounted for 15.9 percent of the total assets by the end of the reference quarter

    Liquid assets held by UAE-based banks increased 2.6 percent to Dh486.58 billion ($132.48 billion) in first quarter (Q1’21) from AED474.136 bn ($129.09 bn)  in the last quarter of last year, according to the UAE Central Bank’s Core Financial Soundness Indicators report, released Monday.

    The steady growth in liquidity is yet a new sign of the gradual economic recovery underway across all sectors, primarily the retail and commercial platforms, despite the economic fallout from the pandemic.

    Liquid assets accounted for 15.9 percent of the total assets by the end of the reference quarter, according to the report.

    Liquid assets consist of eligible liquid assets (cash in hand, banks’ liquid assets at the Central Bank and eligible bonds/ sukuks as prescribed by CBUAE regulation) interbank placements; and interbank lending covered by repurchase agreements per the FSI Compilation Guide issued by IMF. Total assets are net off specific provisions.

     

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