National banks boosted their investments in local stock markets by AED4.4 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 AED16.1 billion at the end of May, a year-on-year (YoY) increase of 37.6 percent compared to AED11.7 billion in May 2023.
Foreign banks' investments in local stock markets reached AED300 million at the end of May, compared to AED200 million in May 2023, an increase of 50 percent or AED100 million.
National banks accounted for 94.9 percent of the AED16.4 billion worth of equity investments by banks operating in the UAE at the end of May, while foreign banks accounted for 5.1 percent.
According to the statistics, traditional banks' investments in local stock markets reached AED14.2 billion at the end of May, a YoY increase of 52.7 percent, or AED4.9 billion, compared to AED9.3 billion in May 2023.
The Islamic banks' investments in local stock markets stood at AED2.2 billion at the end of May, a year-on-year decrease of 15.4 percent compared to AED2.6 billion in May 2023.
According to CBUAE statistics, the Abu Dhabi banks' investments in local stock markets amounted to about AED11.4 billion, Dubai banks' investments amounted to AED2.2 billion, and the share of banks in other emirates amounted to about AED2.8 billion at the end of May 2024.
News Source: Emirates News Agency
