DUBAI: UAE banks’ investments exceeded 511 billion dirhams ($139 billion) at the end of November 2022, the highest level in 13 months, according to the Central Bank of the UAE.
The CBUAE’s statistics also showed an annual increase of 7.7 percent, equivalent to 36.6 billion dirhams, reaching a total of 511 billion dirhams at the end of November, compared to 474.5 billion dirhams in November 2021.
According to the figures, securities that are debts to third parties, or bonds, accounted for the largest share of banks’ investments by more than 49.1 percent, reaching 250.9 billion dirhams at the end of November, an increase of 4.5 percent on a monthly basis, compared to 240.1 billion dirhams in the previous year. –Agencies
