T + T – Normal size
Investments of banks operating in the country in cash bills and Islamic certificates of deposit reached AED 227 billion at the end of the second quarter of this year, an annual increase of about 10.3% compared to AED 205.7 billion at the end of the second quarter of 2023, according to the latest statistics from the Central Bank of the UAE..
Statistics issued by the Central Bank today showed that banks’ investments in Sharia-compliant certificates of deposit reached AED 43.9 billion by the end of the second quarter of this year..
Statistics showed that the Central Bank’s foreign assets increased by 5.3% year-on-year to reach AED 770.6 billion, as a result of the increase in current account balances and deposits with banks abroad by 9.1%, and in other foreign assets by 1%, exceeding the decrease in foreign investments by 3.3%.%.
Total capital and reserves of banks operating in the country increased by 3.9% to AED 495.2 billion at the end of the second quarter of this year, and the total capital adequacy ratio reached 18.3%, which means that it is still well above the capital adequacy ratio of 13%, which includes the capital conservation reserve requirement of 2.5%, and the Tier 1 ratio of 8.5%, as stipulated in the Central Bank’s guidelines in line with the principles of “Basel III”.“
According to the Central Bank, the number of local banks (excluding investment banks) remained stable at 23 banks at the end of the second quarter of this year, and the number of branches of these banks decreased to 482 branches at the end of last June. The number of electronic banking service units of banks and cash offices remained stable at 46 units and 21 offices, respectively, during the same period..
The number of Gulf banks remained stable at the end of the second quarter at 6 banks, in addition to one Gulf business bank, and the branches of these banks remained stable at 6 branches. While the number of other foreign banks reached 21 banks with 72 branches, and the number of electronic banking services units of banks remained at 21 units at the end of the second quarter.
The number of financial institutions licensed by the Central Bank, which are business banks, representative offices, finance and exchange companies, amounted to about 11, 70, 17 and 76 institutions respectively at the end of the second quarter of this year. The total number of ATMs affiliated with banks operating in the country decreased by 10 machines to reach 4,659 machines at the end of the second quarter of this year..
