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Business, Banking & Finance, Economy

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Total assets of UAE national banks at $816b in Jan to May 2022

Assets of the 37 foreign banks rose 2.22 percent from US$2.4 billion to US$114 billion by end of May from US$111 billion in May 2021.
By TRENDS Desk
August 7, 2022 7:17 pm
  • Total assets of the 22 national banks rose to US$816.8b (AED 3.023 trillion) in the first five months of 2022, up four percent
  • Assets of national banks accounted for 87.8 percent of gross banking sector's assets of US$937 billion (AED 3.442 trillion)

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.

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