The Central Bank of the UAE has announced that the total investments made by banks operating in the country have surged to a record high of AED 528B by the end of December 2022, marking an impressive 11.5% year-on-year increase or AED 54.5B in comparison to the same period in 2021.
Moreover, the data reveals that the investments of the UAE banks have witnessed a monthly growth of 3.25% or AED 16.6B, jumping from AED 511.1B in November 2022 to AED 527.7B in December 2022.
As per the report, the major components of banks’ investments, comprising 49% or AED 258.5B was directed towards bonds at the end of December 2022, which registered a monthly rise of 3.03% from AED 250.9B in November 2022, according to WAM.
The share of banks’ investments in securities held to maturity amounted to 39.6% of the total or AED 208.9B at the end of December, a significant 77.3% annual increase compared to AED 117.8B in December 2021.
Other investments of banks totalled AED 48.3B at the end of December, an annual rise of 13.4% compared to AED 42.6B in December 2021. This represents a 2.3% monthly increase compared to AED 47.2B in November 2022.
