Investments by banks operating in the UAE exceeded AED 650 billion by the end of February, marking the highest level in history, according to the latest statistics from the Central Bank of the UAE.
The Central Bank’s banking indicators report, released on Tuesday, showed that bank investments rose by 20.6% year-on-year to reach AED 652.7 billion at the end of February 2024, up from approximately AED 541.4 billion in February 2023—an increase of AED 111.3 billion over 12 months.
Monthly investments also grew by 2% compared to AED 640.1 billion in January 2024, a rise of AED 12.6 billion in one month. Since the beginning of the year, investments increased by 2.9%, or AED 18.3 billion, compared to AED 634.4 billion at the end of 2023.
Bonds held to maturity accounted for the largest share of bank investments at 49.1%, reaching AED 320.6 billion at the end of February, with a monthly increase of 3.02% and a yearly rise of 39.2%.
Debt securities (bonds issued by third parties) represented 40.9% of total investments, totaling AED 267 billion at the end of February, up 1.3% monthly and 7.3% annually.
Bank investments in equities reached AED 15.8 billion in February 2024, a 31.7% year-on-year increase from AED 12 billion in February 2023, though they fell 1.25% compared to AED 16 billion in January 2024.
Other bank investments stood steady at AED 49.3 billion at the end of February, the same level as in January.
It is noted that bank investments do not include deposits with the Central Bank in the form of certificates of deposit and cash bills.
