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UAE's banking sector liquid assets stand at Dh786.6 billion in Q1-24

UAE's banking sector liquid assets stand at Dh786.6 billion in Q1-24
15 June 2024 00:02

ABU DHABI (WAM)

The liquid assets in the UAE banking sector stood at Dh786.6 billion at the end of Q1-24, marking a year-on-year increase of 28.2%, or Dh172.8 billion, compared to approximately Dh613.8 billion at the end of Q12023.

In its report on key financial stability indicators for Q1-24, released on Friday, the Central Bank of the UAE (CBUAE) stated that the value of these liquid assets increased on a quarterly (q-o-q) basis by 5.7%, or Dh42.7 billion, compared to approximately Dh743.95 billion at the end of the Q4-23.

The value of these assets constituted 18.8% of the total banking sector assets, which amounted to Dh4.185 trillion at the end of Q1-24, up from 18.6% at the end of Q4-23.

CBUAE pointed out that the UAE banking system is well-capitalised, with the overall capital adequacy ratio reaching 18% by end of Q1-24, compared to 17.9% at the end of Q4-23.

It explained that the capital adequacy ratio is still significantly higher than the minimum capital adequacy requirement of 13%, which includes a capital conservation buffer of 2.5% and a minimum Tier 1 capital requirement of 8.5%, as stipulated in the Central Bank's regulations in compliance with the Basel III guidelines, which have been followed by banks in the UAE since December 2017.

Source: WAM
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