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FINANCIAL NEWS
UAE banks’ assets hit USD488b in Nov: CB
29 Jan 2013
(MENAFN) The UAE Central Bank stated that in November 2012, assets of the country’s 51 banks hit a record high of USD488 billion, compared with USD479 billion in October, reported Emirates 24/7.
The central bank said that the figure represents also an increase of USD33.47 billion from 2011’s same period, when they stood at USD455 billion.
Meanwhile, deposits with the country’s banks at the end of November increased by USD5.44 billion from USD316 billion a month before to USD321 billion.
Capital and reserves of the UAE’s 23 national banks and 28 foreign units kept their position as the largest in the region, at nearly USD75 billion, compared with USD74.68 billion.
Nevertheless, lending remained relatively slow, posting a slight rise of 0.4 percent in November to USD301 billion, from USD300 billion at the end of October.
Furthermore, personal loans went up by just 0.3 percent to USD71.23 billion, according to the central bank.
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