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FINANCIAL NEWS
Foreign reserves of UAE banks up to USD83.43b in 2012: CB
07 May 2013
(MENAFN) The UAE central bank announced that foreign reserves of the country’s 51 banks hit around USD83.43 billion at the end of last year, reported Emirates 24/7.
The bank said that the figure represents an increase of USD15.78 billion from the USD67.72 billion posted at the end of 2011.
It added that foreign liabilities grew to USD85.74 billion, compared with USD78.94 billion a year before.
Excluding the central bank’s foreign assets, net foreign assets reached USD2.44 billion, down from USD11.16 billion in 2011.
It is worth noting that the UAE has 23 national banks and 28 foreign units.
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