The Central Bank of the UAE has reported an 8.5% year-on-year increase in the aggregate capital and reserves of banks operating in the country, which stood at AED 438.6B as of January 2023 compared to AED 404.3B in January 2022.
National banks accounted for 86.5% of the total capital and reserves, which increased to AED 379.3B in January 2023 from AED 350.2B in January 2022, representing a y-o-y growth of 8.31%. The report was issued today, according to WAM.
As of January 2023, foreign banks held a 13.5% share of the aggregate capital and reserves of banks operating in the UAE, amounting to AED 59.3B. This represents a year-on-year increase of 9.6% from AED 54.1B in January 2022.
In the same month, the aggregate capital and reserves of banks operating in Dubai and Abu Dhabi grew by 9.5% and 8.9% year-on-year, reaching AED 211B and AED 194.9B, respectively. Meanwhile, the aggregate capital and reserves of banks operating in other emirates amounted to AED 32.7B.
