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United Arab Emirates
14.06.24 10:30
Economics

UAE banks mark the highest investment rate in history

The share of investments increased by 21.1 per cent year-on-year

The UAE Central Bank recently released statistics showing that at the end of March of last year, bank investments in the UAE crossed the US$16.33 billion threshold, marking the greatest level in the bank's history. This is reported by Emirates News Agency (WAM), a partner of TV BRICS.

According to data from the central bank, bank operations in the nation raised their investments by 21.1 per cent on an annual basis.

The central bank reports that monthly bank investments rose by 1.8 per cent in February of last year and by roughly 4.7 per cent in the first quarter of this year.

With the highest percentage of bank investments, which is roughly 49 per cent, held-to-maturity bonds saw increases of 1.6 per cent each month and 37.8 per cent per year.

Approximately 41.2 per cent of the overall investment volume was made up of bank investments in securities known as "debt bonds," which are supposed to represent debts owed to other people.

Notably, bank deposits in the form of bills of exchange and certificates of deposit with the central bank are not included in bank investments.

Photo: iStock

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