ABU DHABI, 13th September, 2023 (WAM) — Investments of banks operating in the UAE reached AED580 billion at the end of July 2023, the highest level in history, according to the latest statistics of the UAE Central Bank. The data showed that investments of banks operating in the country increased by 18.8 percent on an annual basis, from AED487.7 billion in July 2022. On a monthly basis, investments of banks increased by 0.91 percent, from AED574.3 billion in June 2023. Bonds held until maturity accounted for the largest share of banks’ investments, reaching AED 266.8 billion at the end of July 2023, an increase of 1.3 percent from the previous month, when it was AED 263.3 billion. Debt securities, which represent debts owed to others, made up about 43 percent of the total investments, reaching AED 249.9 billion at the end of July 2023, an increase of 0.6 percent from AED 248.5 billion in June 2023. Bank investments in stocks reached AED 12.5 billion at the end of July 2023, an increase of 3.3 percent from th
e previous month, when it was AED 12.1 billion. During the first seven months of 2023, bank investments in stocks increased by 5.9 percent, from AED 11.8 billion in December 2022. According to Central Bank statistics, other investments by banks amounted to AED 50.3 billion at the end of July 2023, an increase of 12.5 percent from AED 44.7 billion in July 2022. It is noteworthy that bank investments do not include the bank’s deposit with the Central Bank in the form of certificates of deposit and cash bills. Muhammad AamirAmjad Saleh
Source: Emirates News Agency