UAE banks record 12% higher investments in May

The UAE banks mainly invested in bonds and securities

Image used for illustrative purpose. United Arab Emirates Currency notes.

Image used for illustrative purpose. United Arab Emirates Currency notes.

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UAE - Mubasher: The investments of banks operating in the UAE increased by 12.03% year-on-year (YoY) or AED 44.6 billion to AED 414.9 billion by the end of May 2020, recording the highest level since 2013.

In May 2019, the UAE banks made AED 370.33 billion investments, according to the latest statistics by the Central Bank of the UAE (CBUAE).

Meanwhile, the UAE banks' investments recorded a rise of 5% month-on-month (MoM) or AED 20.7 billion by the end of April and 4% or AED 15.9 billion from December 2019 to May 2020.

The UAE banks invested in bonds and held-to-maturity securities, which accounted for 82.6% or AED 342.7 billion of the total investments in May, along with their investments in equity.

During the first five months of 2020, the UAE banks raised their investments in debt bonds to AED 246.1 billion, up 3.6% or AED 4.7 billion from AED 241.4 billion by the end of December.

At the same time, the banks' investments in held-to-maturity securities jumped by 2.2% to AED 101.3 billion in the first five months of this year from AED 99.1 billion by the end of 2019.

The other investments of the UAE banks surged by 14.9% to AED 49.4 billion by the end of May from AED 43 billion in December, while the investments in equity declined to AED 9.2 billion.

Source: Mubasher

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