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FINANCIAL NEWS
UAE banks’ capital base surges to USD73.2b
13 Nov 2011
(MENAFN) the Union of Arab Banks (UAB) said that UAE banks had the largest capital base in the Arab world, reaching USD73.2 billion at the end of 2011’s first half from USD63 billion at the end of 2009, reported Emirates 24/7.
It added that in the 18 months period, combined capital of the country’s banks soared by more than USD1 billion, moreover, UAE banks controlled around 28 percent of the total shareholders equity of the Arab banking sector.
It also said that Saudi banks had the second largest capital in the Arab world, reaching around USD15 billion at the end of May, followed by Qatari banks with combined capital reaching around USD26.7 billion at the end of May 2011.
It is worth noting that bank capital in Bahrain reached around USD25.8 billion, whereas it reached around USD21.9 billion in Kuwait and USD13.5 billion in Egypt.
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