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Business, Banking & Finance, Economy

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

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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