UAE CB almost doubles deposits

12 Jun 2011

(MENAFN) UAE’s Central Bank said that following a notable raise in deposits by banks and certificates of deposits that were issued by the central bank, in the year’s first four months, the bank increased its deposits with banks abroad almost the double, reported Emirates 24/7.

The bank added that at the end of April, its total assets reached their highest levels of around USD75.4billion driven by USD2.18 billion international investments, moreover, the banks deposits with other banks went up to around USD24 billion at the end of April from USD12 billion at the end of last year.

It also said that deposits by banks with the central bank increased USD4.6 billion reaching USD22.6 billion whereas maturity investments accelerated to around USD50 billion from USD47.6 billion.

It is worth noting that the increases enhanced the bank’s total assets by USD13 billion to USD62 billion at the end of April from USD62.3 billion at the end of last year.

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