Bank investments in UAE hit AED 548.5 billion by the end of March, the highest level in the country’s history, a report by the Central Bank of the United Arab Emirates revealed.
The report, issued on Friday, showed a YoY growth of 16 per cent compared to about AED 472.7 billion in March 2022. Month over month, these investments climbed by 1.3 per cent from AED 541.4 billion in February 2023.
Securities accounted for the majority of bank investments, around 45.6 per cent, or AED 250.1 billion during the reference period.
Held-to-maturity (HTM) securities accounted for 43 per cent of the total investments, reaching AED 236.3 billion in March, a YoY growth of 74.1 per cent from AED 135.7 billion in March 2022, and a 2.6 per cent monthly increase from AED 230.3 billion in February 2023.
The bank stock investments reached AED 11.9 billion in March, a rise of approximately 0.8 per cent from around AED 11.8 billion in December 2022.