Total assets of the 22 national banks rose to US$ 816.8 billion (AED 3.023 trillion) in the first five months of 2022, up four percent from US$31.9 billion (AED 117.3 billion), according to the latest statistics released by the UAE Central Bank (CBUAE).
Assets of national banks accounted for 87.8 percent of gross banking sector’s assets of US$937 billion (AED 3.442 trillion) by end of last May, against 12.2 percent for foreign banks.
Assets of the 37 foreign banks rose 2.22 percent from US$2.4 billion (AED 9.1 billion) to US$114 billion (AED 419.4 billion) by end of May from US$111 billion (AED 410.3 billion) in May 2021.
In the first five months of the year, foreign banks’ assets grew by US$1 billion (AED 3.9 billion) or 0.94 percent, CBUAE statistics revealed.