The report highlights a robust 30.4% YoY increase in the CBUAE’s balance sheet, reaching a total of AED669.72 billion by November 2023…reports Asian Lite News
The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to touch the AED670 billion mark at the end of November 2023, marking a significant surge in its financial strength. This impressive growth is revealed in the bank’s latest balance sheet report.
The report highlights a robust 30.4% YoY increase in the CBUAE’s balance sheet, reaching a total of AED669.72 billion by November 2023. Compared to AED 513.61 billion in November 2022, this translates to a substantial growth of AED156.1 billion
This upward trend is not a recent phenomenon. The CBUAE’s balance sheet maintained a steady 21.2% growth rate throughout the first eleven months of 2023. This translates to an additional AED 117.2 billion added to the balance sheet, compared to AED 552.55 billion at the end of December 2022.
On the asset side, cash and bank balances remain a major component, valued at AED 323.69 billion. Investments and deposits also play a substantial role, totaling AED 207.98 billion and AED 97.46 billion respectively. Notably, loans and advances have seen healthy growth, reaching AED2.11 billion. Other assets valued AED38.48 billion
The other side of the equation, liabilities and capital, shows stability with current and deposit accounts holding the leading position at AED 292.64 billion. Issuance of monetary licenses and Islamic deposit certificates accounts for AED213.06 billion, while issued banknotes and coins stand at AED 133.82 billion.
Capital and reserves show strong standing at AED 15.45 billion, demonstrating the bank’s financial stability. Notably, other liabilities hold a relatively small share at AED 14.75 billion.
This deeper dive into the Central Bank’s balance sheet highlights its robust position and diversified asset portfolio. The growth across various categories reflects a healthy and dynamic financial landscape in the United Arab Emirates.
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