UAE Bank's Investments increased By 18.8% in July to Dh 580 Billion
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UAE Bank's Investments increased By 18.8% in July to Dh 580 Billion

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Bank investments in the UAE hit Dh580 billion by the end of July 2023, the highest level in history. According to the report, investments climbed by 18.8 percent year on year, from Dh487.7 billion in July 2022. Monthly investments increased by 0.91 percent from Dh574.3 billion in June 2023.

Bonds held to maturity accounted for the lion's share of bank investments, totaling Dh266.8 billion at the end of July 2023, up 1.3% from the previous month's total of Dh263.3 billion. Debt securities, which indicate obligations due to others, accounted for around 43% of total assets, totaling Dh249.9 billion at the end of July 2023, a 0.6% rise from Dh248.5 billion in June 2023.

Bank stock investments totaled Dh12.5 billion at the end of July 2023, up 3.3% from the previous month's figure of Dh12.1 billion. Bank investments in stocks climbed by 5.9 percent in the first seven months of 2023, from Dh11.8 billion in December 2022.

Other bank investments were Dh50.3 billion at the end of July 2023, up 12.5% from Dh44.7 billion in July 2022, according to Central Bank statistics.

It is worth noting that bank investments do not include the bank's deposits with the Central Bank in the form of CDs and cash bills.

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