The total capital and reserves of banks operating in the UAE increased on an annual basis by AED 34.3 billion or 8.5 percent to reach AED 438.6 billion at the end of January, compared to AED 404.3 billion at the end of January 2022.
According to the UAE Central Bank, the capital and reserves of banks increased on a monthly basis by 2.07 percent, or the equivalent of 8.9 billion dirhams, compared to 429.7 billion dirhams during December 2022. According to the central bank, the capital and reserves of banks do not include loans, secondary deposits, but include profits for the current year. According to the CBE, national banks accounted for about 86.5 percent of the total capital and reserves of banks operating in the country, with their value reaching 379.3 billion dirhams at the end of last January, an increase on an annual basis by about 29.1 billion dirhams, or 8.31 percent, compared to about 350.2 billion dirhams during January 2022.
Source (Al Khaleej Emirati Newspaper, Edited)
