Sharjah 24 – WAM: Aggregate capital and reserves of banks operating in the UAE increased by 10 percent year-on-year (YoY) to AED435.3 billion at the end of April 2023 from AED395.9 billion at the end of April 2022, according to the Central Bank of the UAE’s (CBUAE) monthly report on the monetary, banking and financial developments.
The report noted that national banks accounted for 86.4 percent of the total capital and reserves of banks operating in the UAE, which stood at AED376.1 billion at the end of April 2023 compared AED341.5 billion at the end of April 2022, a YoY growth of 10.1 percent.
Share of foreign banks in aggregate capital and reserves of banks operating in the UAE settled at 13.6 percent, reaching AED59.2 billion at the end of April 2023, a YoY increase of 8.8 percent compared with AED54.4 billion in April 2022.
At the end of last April, aggregate capital and reserves of banks operating in the emirates of Dubai and Abu Dhabi grew on a YoY basis of 11.4 percent and 9.9 percent to AED210.3 billion and AED192.3 billion respectively, while aggregate capital and reserves of banks operating in other emirates stood at AED32.7 billion, a YoY growth of 1.6 percent.
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