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FINANCIAL NEWS
UAE’s CB H1 total assets up by USD12b
16 Aug 2011
(MENAFN) UAE’s Central Bank stated that in the year’s first six months, total assets abroad grew by USD12 billion in both deposits and securities, reported Emirates 24/7.
The bank added that at the end of the period, held to maturity investments went up to USD52.4 billion from USD47.6 billion at the end of last year, recording their highest level, furthermore, deposits with banks abroad surged reaching USD20 billion.
It also said that its forecasted net profits in 2011 would reach USD1 billion, while total revenue would reach around USD1.3 billion and expenses USD302 million, including interest on certificates of deposits.
It is worth noting that in 2011’s first half, cash and bank balances at the UAE’s CB dropped by almost USD544 million.
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