UAE banks' assets hit AED 3.18trn in May 2021

SectorFinancial Services

The total value of the UAE banks’ assets went up 0.5% to AED 3.18 trillion in May 2021, compared to AED 3.165 trillion in May 2020, according to the latest data by the Central Bank of the UAE (CBUAE). On a monthly basis, the UAE banks record a 0.4% rise in the total value of assets, compared to AED 3.169 trillion in April 2021. The total banks’ reserves jumped by 10.8% to AED 330.8 billion in May 2021 from AED 298.6 billion in the same month of the earlier year.

Meanwhile, the UAE banks’ investments reached AED 520.2 billion in May 2021, up 25.4% from AED 414.9 billion in the corresponding period of 2020. more...