UAE banks' investments reach all-time high

Investments of banks operating in the UAE surpassed AED 580 billion in August 2023, hitting an all-time high.

According to the Central Bank's latest statistics, investments increased by 19.5 per cent year-over-year, up AED 95.6 billion compared to AED 489.8 billion in August 2022.

On a monthly basis, the growth exceeded 1 per cent - up AED 5.9 billion from AED 579.5 billion in July 2023.

Bonds held until maturity accounted for the largest share of investments at 47 per cent, reaching AED 276 billion at the end of August 2023, up 3.4 percent compared to July 2023.

Banks' investments in debt bonds accounted for 42.1 per cent, totalling AED 246.5 billion at the end of July 2023, up 0.16 per cent compared to August 2022.

Meanwhile, banks' investments in shares rose 0.8 per cent month-over-month to AED 12.6 billion at the end of August 2023.

Other investments totalled AED 50.3 billion at the end of August 2023, up 12.5 per cent from AED 44.7 billion in August 2022.

Notably, bank investments do not include deposits with the Central Bank, such as certificates of deposit and cash bills.