UAE banks' debt investments grow over 12% YoY in April

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Abu Dhabi – UAE banks increased their debt investments by 12.2% year-on-year to AED 211.1 billion ($57.47 billion) in April from AED 188.1 billion ($51.20 billion).

Month-on-month, banks’ debt investments grew 3% or AED 6.1 billion, according to a report released by the Central Bank of the UAE (CBUAE).

Banks operating in the UAE are keen on diversifying their investments to address the decline in oil prices, capital market analyst Basel Abu Teima told Mubasher.

Banks investments in stock markets rose 2.5% last month, recording AED 12.5 billion versus AED 12.2 billion a year earlier.

Investments injected by the UAE banks in held-to-maturity bonds went up 1.8% year-on-year in the fourth month of the year, the CBUAE’s data showed.