Today's Edition
ABU DHABI (WAM)
National banks boosted their investments in local stock markets by Dh4.4 billion over 12 months, according to the latest statistics from the Central Bank of the UAE (CBUAE).
According to Central Bank statistics, national banks raised their equity investments to Dh16.1 billion at the end of May, a year-on-year (YoY) increase of 37.6 per cent compared to Dh11.7 billion in May 2023.
Foreign banks' investments in local stock markets reached Dh300 million at the end of May, compared to Dh200 million in May 2023, an increase of 50 per cent or Dh100 million.
National banks accounted for 94.9 per cent of the Dh16.4 billion worth of equity investments by banks operating in the UAE at the end of May, while foreign banks accounted for 5.1 per cent.
According to the statistics, traditional banks' investments in local stock markets reached Dh14.2 billion at the end of May, a YoY increase of 52.7 per cent, or Dh4.9 billion, compared to Dh9.3 billion in May 2023.
The Islamic banks' investments in local stock markets stood at Dh2.2 billion at the end of May, a year-on-year decrease of 15.4 per cent compared to Dh2.6 billion in May 2023.
According to CBUAE statistics, the Abu Dhabi banks' investments in local stock markets amounted to about Dh11.4 billion, Dubai banks' investments amounted to Dh2.2 billion, and the share of banks in other emirates amounted to about Dh2.8 billion at the end of May 2024.
