CBUAE's Balance Sheet Reaches AED 734.61 Billion by January 2024

The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to touch AED734.61 billion at the end of January 2024, 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 increase in the CBUAE's balance sheet, reaching a total of AED734.61 billion by January 2024. Compared to AED559.88 billion in January 2023, this translates to a substantial growth of AED174.73 billion.

The Central Bank's balance sheet increased on a monthly basis to about AED720.94 billion in December 2023.

According to the statistics, the Central Bank's balance sheet was distributed on the asset side as follows: AED331.41 billion for cash and bank balances in January 2024, in addition to investments of about AED213.17 billion, AED161.51 billion for deposits, AED1.93 billion for loans and advances, and AED26.59 billion for other assets.

The other side of the equation, liabilities and capital were as follows: AED325.1 billion for current accounts and deposit accounts, about AED240.9 billion for cash bonds and Islamic deposit certificates, AED135.23 billion for issued banknotes and coins, AED18.31 billion for capital and reserves, and AED18.31 billion for other liabilities.

News Source: Emirates News Agency