CBUAE reports record-breaking balance sheet of AED594 Billion in March

The balance sheet of the Central Bank of the UAE (CBUAE) surpassed AED594 billion by the end of March 2023, marking the largest level ever in its history, a CBUAE report has revealed.

In its budget report for March 2023, the apex bank said that its balance sheet grew by 5.3% on a monthly basis to AED594.12 billion at the end of March, compared to about AED564.25 billion in the previous month.

The bank's balance sheet increased YoY by 15.2%, or the equivalent of AED78.3 billion, from about AED515.79 billion in March 2022 to about AED554.99 billion at the end of December 2022. Since the beginning of this year, it has increased by about 7.05%.

According to the statistics, the Central Bank’s balance sheet was distributed on the asset side with AED 261.16 billion for cash and bank balances in March, along with reserved investments until the due date of about AED196.82 billion; AED107.82 billion for deposits; AED3.57 billion for loans and advances; and AED 24.75 billion for other assets.

Moreover, the balance sheet was distributed on the liability and capital side with AED 247.14 billion for current and deposit accounts; about AED195.98 billion for certificates of deposit and monetary bills; AED129.21 billion for currency notes & coins issued; AED14.21 billion for capital and reserves; and AED7.58 billion for other liabilities.

News Source: Emirates News Agency