UAE banks invest AED 276.8bn in debt securities in August

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UAE – Mubasher: The UAE banks have increased their investments in debt securities by 2.3% month-on-month (MoM) or AED 6.3 billion to record around AED 276.8 billion in August 2020, according to the latest data by the Central Bank of the UAE (CBUAE). In July, the UAE banks have invested AED 270.5 billion. On an annual basis, the UAE banks' investment in debt securities rose by 15.8% in August, when compared to AED 239 billion in the same month of 2019. Meanwhile, the UAE banks have invested AED 8.9 billion in equities in August, down AED 400 million compared to AED 8.5 billion in July. It is noteworthy to mention that in the first half (H1) of 2020, the total investments of the UAE banks in debt instruments grew by 5.9% year-on-year (YoY) or AED 23.4 billion. more...