UAE banks increase their capital and reserves by 13.3% to 496.8 billion dirhams

National banks accounted for 86.5% of the total capital and reserves of banks operating in the Emirates, with a value of 429.4 billion dirhams at the end of last January.

The capital and reserves of banks in the Emirates increased by about 58.2 billion dirhams, or 13.3%, to 496.8 billion dirhams at the end of January 2024, compared to about 438.6 billion dirhams in January 2023, according to the latest UAE Central Bank statistics.

On a monthly basis, bank capital and reserves increased by 8.1 billion dirhams, or 1.7%, to 496.8 billion dirhams at the end of January 2024, compared to 488.7 billion dirhams in December 2023.

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Bank capital and reserves do not include loans/secondary deposits, but they include profits for the current year.

National banks accounted for 86.5% of the total capital and reserves of banks operating in the Emirates, with a value of 429.4 billion dirhams at the end of last January, compared to about 379.3 billion dirhams in January 2023, an increase on an annual basis of 13.2%.

As for the share of foreign banks, it amounted to 14% of the total capital and reserves of banks operating in the Emirates, with their value reaching 67.4 billion dirhams at the end of last January, compared to about 59.3 billion dirhams in January 2023, an increase on an annual basis of about 13.7%.

The capital and reserves of banks in the Emirate of Dubai reached 243.6 billion dirhams at the end of last January, with an annual growth of 15.4%, while the capital and reserves of banks in the Emirate of Abu Dhabi amounted to about 215.2 billion dirhams, an annual increase of 10.4%, and the capital and reserves of banks in the other emirates reached about 38 billion dirhams. With an annual increase of 16.2%.

The capital and reserves of conventional banks in the country recorded about 417.2 billion dirhams at the end of last January, an increase on an annual basis of 13.8%, while the capital and reserves of Islamic banks amounted to about 79.6 billion dirhams, an increase on an annual basis of about 10.4%.