Abu Dhabi, UAE – The balance sheet of the Central Bank of the UAE (CBUAE) surpassed AED594 billion ($161 billion) by the end of March 2023, marking the largest level ever in its history, a CBUAE report has revealed.
In its budget report for March 2023, the apex bank said that its balance sheet grew by 5.3 percent on a monthly basis to AED594.12 billion ($161.23 billion) at the end of March, compared to about AED564.25 billion ($153.12 billion) in the previous month.
The bank’s balance sheet increased YoY by 15.2 percent, or the equivalent of AED78.3 billion ($21.3 billion), from about AED515.79 billion ($139.82 billion) in March 2022 to about AED554.99 billion ($154.99 billion) at the end of December 2022. Since the beginning of this year, it has increased by about 7.05 percent.
According to the statistics, the Central Bank’s balance sheet was distributed on the asset side with AED261.16 billion ($70.95 billion) for cash and bank balances in March, along with reserved investments until the due date of about AED196.82 billion ($52.87 billion); AED107.82 billion ($28.87 billion) for deposits; AED3.57 billion ($958 million) for loans and advances; and AED24.75 billion ($6.74 billion) for other assets.
Moreover, the balance sheet was distributed on the liability and capital side with AED247.14 billion ($67.26 billion) for current and deposit accounts; about AED195.98 billion ($52.95 billion) for certificates of deposit and monetary bills; AED129.21 billion ($35.02 billion) for currency notes and coins issued; AED14.21 billion ($3.80 billion) for capital and reserves; and AED7.58 billion ($2.03 billion) for other liabilities.