DUBAI, Jan. 11, 2023 (Xinhua) — New statistics from the UAE Central Bank showed that investments by banks operating in the UAE increased year-on-year by 3.5 percent to reach AED 493.7 billion at the end of last October, an increase of 16.6 billion dirhams, compared to about 477.1 billion dirhams in the previous year October 2021.
And the bank said in its banking indicators report released today (Wednesday) that investment banking increased during the first ten months of the year 2022 by about 20.5 billion dirhams, or 4.3%, compared to 473 .2 billion dirhams at the end of December 2021.
He explained that investment banking increased on a monthly basis by 2.15%, or the equivalent of 10.4 billion dirhams, compared to about 483.3 billion dirhams in September 2022, while securities representing debts to others , “debt bonds”, accounted for the largest share of investment banking by more than 48.6% with It reached 240.1 billion dirhams at the end of last October, up 0.25% MoM, compared to 239.5 billion dirhams at the end of September 2022.
The share of investments by UAE banks in securities held to maturity amounted to around 39.5% of total investments, reaching 195.1 billion dirhams at the end of last October, an annual increase of 62% compared to 120 6 billion in October 2021, and a monthly increase of 3.9% from 187.8 billion dirhams in September 2022.
Banks’ investments in shares reached 11.7 billion dirhams last October, up on a monthly basis by about 3.5%, compared to about 11.3 billion dirhams in September 2022, while decreasing on an annual basis by about 14.6%.
According to statistics from the UAE Central Bank, the banks’ other investments amounted to around AED 46.8 billion at the end of last October, up 1.1 percent year-on-year from AED 46.3 billion of October 2021, and year-on-month increase of 4.7% from the previous September’s 44.7 billion dirhams, an increase of 9.9% per cent in the first ten months of last year, compared to about 42.6 billion dirhams as of December 2021.