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UAE CB’s investments hit USD56.34b in Aug

29 Nov 2012

(MENAFN) The UAE Central Bank stated that at the end of August, the bank’s fixed-income securities investment exceeded USD56.34 billion, reported Emirates 24/7.

The amount represented around 80 percent of the bank’s total assets.

The bank said that at the end of last year, investments reached USD46.54 billion.

In the January-August period, held-to-maturity investments grew by around USD8.16 billion to hit a record USD54.89 billion, representing a rise of 17.9 percent from the end of 2011.

In the 8-month period, the central bank’s deposits with other banks increased by almost USD1.08 billion to USD9.41 billion.

It is worth noting that at the end of last year, the bank expected its total revenue in 2012 to reach around USD1.17 billion, whereas spending would reach USD223.73 million.

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