Telco’s AGM to approve cash dividends of 40 fils per share for H2 of 2023
business4 days ago
Foreign assets of Central Bank of the UAE have surpassed $136 billion for the first time in its history.
The data showed that the apex bank’s foreign assets increased monthly by 1.34 per cent, from $134.4 billion last December to $136.2 billion at the end of last January.
The CBUAE’s foreign assets increased annually by 7.8 per cent, compared to $126.4 billion in January 2022, an increase of $9.8 billion in 12 months.
The regulator s attributed the monthly increase to a 0.18 per cent rise in bank balances and deposits with banks abroad, reaching $85.5 billion at the end of last January, compared to $85.4 billion in December 2022.
Foreign securities held to maturity within the central bank's foreign assets reached $39.1 billion at the end of January, a 6.8 percent increase monthly, compared to $36.6 billion in December 2022.
Statistics showed that other foreign assets reached $11.5 billion at the end of January, a month-on-month decrease of 6.6 per cent, compared to $12.3 billion in December 2022.
Cash deposits saw a 5.6 per cent increase to $175.6 billion last January, compared to $166.3 billion in January 2022. On a monthly basis, cash deposits increased by 1.5 per cent compared to $173 billion in December 2022. Semi-cash deposits rose to $263.5 billion in January, a 12.9 per cent annual increase, compared to $233.3 billion in January 2022. Semi-cash deposits are time deposits and savings deposits for residents in dirhams and in foreign currency, while cash deposits are all short-term deposits that a customer can withdraw without prior notice.
Government deposits also went up 37.8 per cent year-on-year to $110 billion by the end of January, compared to $79.8 billion during the same month last year.
The issued cash also grew to $33.5 billion at the end of last January, an increase of 10.8 per cent on an annual basis, compared to $33.4 billion in January 2022. Issued cash was distributed as $4.4 billion for cash in banks and $29.1 billion for cash circulating outside banks at the end of last January. Statistics show an 11.5 per cent annual rise in the monetary base during January to $146.1 billion compared to $131 billion in the same month last year.
Meanwhile, the value of UAE banks’ assets, including acceptance certificates, has increased to $996.6 billion in January, recording 11.5 per cent growth over that recorded during the same period last year.
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