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UAE banks report AED 786.6B in liquid assets for Q1 2024

UAE’s banking sector liquid assets reached AED 786.6B by the end of Q1 2024, marking a 28.2 per cent year-on-year rise, up AED 172.8B from AED 613.8B in Q1 2023. The Central Bank of the UAE (CBUAE) reported a 5.7 per cent quarter-on-quarter increase, equivalent to AED 42.7B, from AED 743.95B at the end of Q4 2023. These assets represented 18.8 per cent of total banking assets, valued at AED 4.185T by Q1 2024, slightly up from 18.6 per cent in Q4 2023.