Total capital and reserves of the banking system in the United Arab Emirates increased to AED 364.8 billion during the first half of 2019, an increase of 2.7 percent representing AED 9.6 billion compared to AED 355.2 billion at the end of 2018.
The general provisions of the banking system increased to AED 35.4 billion, an increase of 13.5% starting the beginning of this year until the end of June. Special provisions increased from AED 90.4 billion to AED 97.3 billion during the same period. It is clear from the statistics that the capital and reserves of national banks amounted to 309.4 billion dirhams from the beginning of this year until June, representing 85% of the total capital and reserves of the banking system in the UAE, while the proportion of foreign banks reached 15%, which means 55.4 billion dirhams.
In terms of public reserves, the value of national banks amounted to 32.8 billion dirhams, while the foreign banks reached 2.6 billion dirhams. The balance of special reserves for UAE banks reached 70 billion dirhams and about 27.3 billion dirhams for foreign banks.
Source: (Al Khaleej newspaper, Edited)
