Complex Made Simple

UAE banks invest AED127 billion in 9 months

Local banks raised their investment during the period to AED15.66bn, up by 14.11 per cent

Local investments for banks operating in the United Arab Emirates jumped to AED126.94 billion at the end of September 2015, its highest level in nearly six years, according to the latest statistics of the Central Bank.

The local banks raised their investment in the first nine months of this year to AED15.66bn with a growth of 14.11 per cent, Al Bayan reports.

The UAE’s banks reported a monthly increase of AED933 million in their local investments, up by 0.74 per cent compared with AED26bn at the end of August. In August, banks’ local investments grew by AED443m after reaching a total of AED125.56bn by the end of July, Central Bank statistics showed.

Cash volume and deposits in the Central Bank amounted AED 236.61bn at the end of September compared with AED230.35bn at the end of August, AED240.52bn at the end of July, AED241.62bn at the end of June, AED235.95bn at the end of May, AED 232.52bn at the end of April, AED245.77bn at the end of March, AED234.48bn at the end of February, AED234.36bn at the end of January 2015 and AED248.48bn at the end of 2014.