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Consolidated balance sheet of UAE banks rise 2.9pc
ABU DHABI - The consolidated balance sheet of the banks rose by Dh10.63 billion, or 2.9 per cent, in the first quarter of 2004.
The UAE central banks quartrerly bulletin issued yesterday stated that the total balance sheet of banks in the first four months of 2004 rose from Dh 366.91 billion in the same period of 2003 to Dh 377.53 billion.
The bulletin said that credit and local investments were up by Dh12.03 billion, or 5.9 per cent, to Dh215.82 billion, noting that cash and deposits with the central bank climbed by Dh4.94 billion to Dh 32.23 billion, registering 18.1 per cent rise.
Unclassified assets rose to Dh9.49 billion, increasing by Dh746 million, while foreign assets dropped by Dh3.64 billion, or 3.3 per cent, to Dh108.9 billion.
The bulletin said that the net foreign assets with the central bank rose by Dh693 million, or 0.5 per cent, to Dh137.29 billion.
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