Data issued by the Central Bank showed that bank investments grew by 21.1% on an annual basis, reaching 664.4 billion dirhams in March 2024.
Investments made Banks operating in the United Arab Emirates A new historical achievement by exceeding the barrier of 660 billion dirhams for the first time at the end of last March, according to the latest statistics. Emirates Bank Central.
Data issued by the Central Bank showed a growth in bank investments on an annual basis by 21.1%, reaching 664.4 billion dirhams in March 2024, compared to about 548.5 billion dirhams in March 2023, an increase equivalent to 115.9 billion dirhams in 12 months.
In terms of monthly developments, bank investments increased by 1.8%, compared to 652.7 billion dirhams in February 2024. The first quarter of this year also witnessed a remarkable growth of 4.7%, compared to 634.4 billion dirhams at the end of last year.
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The areas of bank investments were diversified, as bonds held until maturity topped the list of investments with a share of 49%, equivalent to 325.6 billion dirhams at the end of March 2024. These investments witnessed a monthly growth of 1.6% and an annual growth of 37.8%.
Debt securities came in third place in terms of investments, accounting for 41.2% of total bank investments, equivalent to 274.1 billion dirhams at the end of March 2024. These investments increased by 2.7% on a monthly basis and 9.6% on an annual basis.
Bank investments in stocks also witnessed an annual growth of 37.8%, reaching 15.7 billion dirhams in March 2024, compared to 11.9 billion dirhams in March 2023. They decreased monthly, declining by 0.6% compared to about 15.8 billion dirhams in February 2024.
Other bank investments amounted to about 49 billion dirhams at the end of last March, a decrease on a monthly basis of 0.6%, and on an annual basis of about 2.4%.
