UAE Banks’ Capital Exceeds AED 500 Billion

The Central Bank of the UAE has announced that the total capital and reserves of banks in the country have exceeded AED 500 billion for the first time in history

According to the latest statistical data from the Central Bank as of July 2024:

- The capital and reserves of banks increased to AED 502.6 billion.

- The annual growth rate was around 10.5% compared to the same period in 2023.

These figures exclude loans and secondary deposits, covering only the profits of the current year.

National banks represented about 86.3% of the total capital and reserves, with their value reaching AED 433.7 billion by the end of July—an increase of 10.4% compared to AED 392.9 billion in 2023.

Foreign banks held 13.7%, totaling AED 68.9 billion, an 11.1% increase from AED 62 billion in 2023.

Bank investments also reached a record high of AED 691.2 billion, marking an annual growth of 19.3% compared to approximately AED 579.5 billion in 2023.