Abu Dhabi-based banks invest $4.68bln in bonds in seven months

This accounts for 87.5% of these banks' total investments in all investment vehicles, including held to maturity securities and others

  
General view of Abu Dhabi, United Arab Emirates, January 3, 2019. Image used for illustrative purpose.

General view of Abu Dhabi, United Arab Emirates, January 3, 2019. Image used for illustrative purpose.

REUTERS/ Hamad I Mohammed

ABU DHABI - Abu Dhabi-based banks invested AED17.2 bn in bonds during the first seven months of 2020, according to the Central Bank of the United Arab Emirates.

As per the apex bank's figures, this brings the cumulative investments in bonds by the capital's banks to AED199.7 bn, a growth of 9.4 percent as compared to the end of December 2019.

This accounts for 87.5 percent of these banks' total investments in all investment vehicles, including held to maturity securities and others.

The increased investments in bonds is reflective of the tendency to diversify investments and maximise profits in the face of market slowdown and manifold challenges besetting the global economy, according to economic analysts.

© Copyright Emirates News Agency (WAM) 2020.