Thursday 24 September 2020

UAE banks invest over $4.5 billion in April

ABU DHABI, May 22, 2020

The UAE’s banking system invested a total of AED16.6 billion ($4.51 billion) in April, reflecting a high level of baking activity, a media report said.

Emirati banks are utilising their excess liquidity in investment instruments that will improve their profits, increasing the accumulative balance of the banking sector’s investments to AED394.2 billion, a rise of 4.4 percent compared to AED377.6 billion in March 2020, reported state news agency Wam, citing figures from the Central Bank of the UAE.

The Central Bank’s statistics highlight an increase in investments by banks in nearly all available instruments, comprising AED13.2 billion in securities that represent debts on other debt securities, which increased in terms of the total balance to AED241.4 billion at the end of April 2020, compared to AED228.2 billion in March.

The investment of the banking sector in stocks increased from AED9.1 billion in March to AED9.3 billion, marking an AED200 million monthly increase while investments in bonds increased from AED90.8 billion to AED94.1 billion, and other investments amounted to AED49.4 billion compared to AED49.5 billion, during the same reporting period.


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