(MENAFN- Khaleej Times) Bank investments in UAE hit Dh541 billion by the end of February, the highest level in the country's history, a report by the Central Bank of the United Arab Emirates revealed. The report, issued on Friday, showed a YoY growth of 15.2 per cent to Dh541.1 billion during the reference period, compared to about Dh470.1 billion in February 2022.
These investments climbed by 1 per cent in January 2023 to Dh536.2 billion in February of the same year.
Securities accounted for the majority of bank investments, around 46 per cent, or Dh248.9 billion during the reference period.
Held-to-maturity (HTM) securities accounted for 42.5 per cent of the total investments, reaching Dh230.3 billion, a YoY growth of 93.53 per cent from Dh119 billion in February 2022, and a 4.7 per cent monthly increase from Dh220 million in January 2023.
The bank stock investments reached Dh12 billion in February, a rise of approximately 1.7 per cent on a monthly basis from around Dh11.8 billion in January 2023, and a YoY drop of about 29.4 per cent from Dh17 billion over the same month last year.
MENAFN19052023000049011007ID1106280036
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.