The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to touch the Dh670 billion mark at the end of November 2023, marking a significant surge in its financial strength. This impressive growth is revealed in the bank's latest balance sheet report.
The report highlights a robust 30.4 percent YoY increase in the CBUAE's balance sheet, reaching a total of Dh669.72 billion by November 2023. Compared to AED 513.61 billion in November 2022, this translates to a substantial growth of Dh156.1 billion
This upward trend is not a recent phenomenon. The CBUAE's balance sheet maintained a steady 21.2 percent growth rate throughout the first eleven months of 2023. This translates to an additional Dh117.2 billion added to the balance sheet, compared to Dh552.55 billion at the end of December 2022.
On the asset side, cash and bank balances remain a major component, valued at Dh323.69 billion. Investments and deposits also play a substantial role, totaling Dh207.98 billion and Dh97.46 billion respectively. Notably, loans and advances have seen healthy growth, reaching Dh2.11 billion. Other assets valued Dh38.48 billion
The other side of the equation, liabilities and capital, shows stability with current and deposit accounts holding the leading position at Dh292.64 billion. Issuance of monetary licenses and Islamic deposit certificates accounts for Dh213.06 billion, while issued banknotes and coins stand at Dh133.82 billion.
Capital and reserves show strong standing at Dh15.45 billion, demonstrating the bank's financial stability. Notably, other liabilities hold a relatively small share at Dh14.75 billion.
This deeper dive into the Central Bank's balance sheet highlights its robust position and diversified asset portfolio. The growth across various categories reflects a healthy and dynamic financial landscape in the United Arab Emirates.