«Central»: an indication of the strength of banks and their ability to invest strongly again

Bank investments rise 26% to 554.8 billion dirhams in September

«Central»: The investments of UAE banks grew during 9 months by 21.7%.

archival

The Central Bank revealed that the investments of banks in the UAE at the end of September 2021 rose to an unprecedented historical level, reaching 554.8 billion dirhams, compared to 440.8 billion dirhams in September 2020, an increase of 25.9% on an annual basis, in an indication of the strength and solidity of the banks, and their ability to Investing aggressively again after the novel coronavirus (Covid-19) pandemic.

investment growth

The Central Bank indicated in new data issued yesterday that the investments of UAE banks grew during nine months by 21.7%, as it rose from 455.8 billion at the end of December 2020 to 554.8 billion dirhams at the end of September 2021, while the investments of banks increased, on a monthly basis, by 2.3%, as it rose from 542.5 billion dirhams at the end of last August to 554.8 billion dirhams at the end of September 2021.

Debt and Equity Bonds

According to the report, investments in debt securities increased, reaching 315 billion dirhams at the end of September 2021, compared to 279 billion dirhams at the end of September 2020, with an increase of 12.9%, on an annual basis, while investments in stocks rose from 8.7 billion dirhams. At the end of September 2020, to 13.8 billion dirhams at the end of September 2021, recording a growth of 58.6%, on an annual basis, as a result of a recovery in the stock market, which prompted banks to increase their investments in it.

Banks' investments in securities held to maturity also increased by 73.3%, from 103.7 billion dirhams to 179.7 billion dirhams, while other investments decreased by 6.5%, on an annual basis, as they decreased from 49.4 billion dirhams to 46.2 billion dirhams.

Total Precautions

At the same time, the total reserves of banks with the Central Bank increased, on an annual basis, to reach 340 billion dirhams at the end of September 2021, compared to 305 billion dirhams at the end of September 2020, an increase of 11.5%, while the total reserves increased during nine months by 7.5%, as it rose from 316.5 billion dirhams at the end of December 2020, to 340 billion dirhams at the end of September 2021, while it achieved a growth of 0.8% on a monthly basis, as it rose from 337.4 billion dirhams at the end of last August to 340 billion dirhams at the end of September 2021.

• Banks' reserves with the Central Bank rose to 340 billion dirhams.

Follow our latest local and sports news and the latest political and economic developments via Google news