Bank investments in the UAE surpassed the Dh620 billion mark by the end of November 2023, marking the highest level in their history, according to the latest statistics from the Central Bank of the UAE (CBUAE).
The growth in investments results in a 21.4% year-on-year increase, compared to the Dh 620.2 billion reached at the end of November 2022. This represents an increase equivalent to Dh109.1 billion compared to approximately Dh511.1 billion during the same period of 2022.
According to the apex bank, monthly investments of banks increased by 3.2%, reaching Dh601 billion in October last year, with an increase of Dh19.2 billion in just one month.
Moreover, these investments witnessed a growth of Dh93 billion or 17.6% during the first 11 months of the previous year, compared to around Dh527.4 billion at the end of 2022.
Held-to-maturity securities claimed the largest share of bank investments, reaching approximately 48.7%, totalling Dh302.2 billion at the end of last November. This reflects a monthly increase of 2.93% compared to around Dh293.7 billion in October.
Debt securities accounted for approximately 41.4% of the total investments, amounting to Dh257.1 billion at the end of November. This indicates a monthly increase of about 4.4% compared to Dh246.2 billion in October 2023.
As of the end of last November, bank investments in stocks reached Dh12.3 billion, experiencing a monthly increase of 1.65% compared to approximately Dh12.1 billion in October 2023. Over the first 11 months of the previous year, these investments increased by about 4.2%, against AED11.8 billion in December 2022.
According to Central Bank statistics, other investments by banks amounted to approximately Dh48.5 billion at the end of November last year, reflecting an annual increase of about 2.75%, compared to AED47.2 billion in November 2022.
It’s worth noting that bank investments do not include the bank’s deposits with the Central Bank in the form of certificates of deposit and monetary bills.
