Abu Dhabi, UAE–UAE’s bank investments climbed to a record level, touching $149.35 billion by the end of March, the highest level in the country’s history, a report by the Central Bank of the United Arab Emirates revealed.
The report, issued today, showed a YoY growth of 16 % compared to about $129 billion in March 2022.
Month over month, these investments climbed by 1.3% from $147.42 in February 2023.
Securities accounted for the majority of bank investments, around 45.6%, or $68 billion during the reference period.
Held-to-maturity (HTM) securities accounted for 43% of the total investments, reaching $64.34 billion in March, a YoY growth of 74.1% from $37 billion in March 2022, and a 2.6 % monthly increase from $62.62 billion in February 2023.
The bank stock investments reached $3.26 billion in March, a rise of approximately 0.8% from around $3.21 billion in December 2022.