The total capital and reserves of banks operating in the UAE increased on an annual basis by AED 52.4 billion or 12.6%, reaching AED 469.9 billion at the end of last October, compared to AED 714.5 billion at the end of October 2022.
The Central Bank of the UAE stated in its monthly report that the capital and reserves of banks increased during the first ten months of this year by about 9.6% or equivalent to 41.3 billion dirhams, compared to 428.6 billion dirhams by the end of December last year 2022, while it grew on a monthly basis by 1.14% compared to 464.6 billion dirhams last September, explaining that the capital and reserves of banks, loans do not include “secondary deposits” but include profits for the current year.
According to the central bank, national banks accounted for about 86.3% of the total capital and reserves of banks operating in the country, with their value reaching AED 405.5 billion at the end of last October, an increase year-on-year of 12.64% compared to about AED 360 billion in October 2022.
