Bank assets in Abu Dhabi, Dubai hit $788bln in April

The figures highlighted an increase in the cumulative value of deposits in Abu Dhabi

  
General view of Central Bank of The U.A.E. on January 3, 2017 in Dubai, United Arab Emirates.

General view of Central Bank of The U.A.E. on January 3, 2017 in Dubai, United Arab Emirates.

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Gross assets of banks operating in Abu Dhabi and Dubai have risen to around AED2.897 trillion ($788 billion), by the end of April, accounting for 92 percent of total banking assets in the country, which are estimated at AED3.156 trillion.

Dubai banks' assets amounted to AED1.489.2 trillion, according to the figures, which were revealed today, while the capital's bank assets reached AED1.407.5 trillion during the reference period, reported state-run news agency Wam, citing figures release by the Central Bank of the UAE

Up to AED259 billion are worth of banking assets in Sharjah, Ras Al Khaimah, Ajman, Fujairah and Umm Al Qaiwain, according to the statistics.

The figures highlighted an increase in the cumulative value of deposits in Abu Dhabi from AED808.1 billion in March to AED837.5 billion in April. In Dubai, it declined to AED869.8 billion from AED874.9 billion in March.

Gross credit figures in Dubai increased to AED885.6 billion in April from AED880.5 billion in March. In Abu Dhabi, gross credit climbed to AED726.3 billion from AED724.3 billion in the reference period.

Total investments by banks in Dubai reached AED150.4 billion in April, compared to AED142.8 billion in March. In Abu Dhabi, investments amounted to AED215.4 billion from AED208.1 bn in the same period.

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