The paths of these two stars have intersected on several occasions due to their association with the luxury brand Bulgari
entertainment4 hours ago
The gross assets of banks in the UAE, including bankers’ acceptances, rose by 0.8 per cent, from Dh3.209 trillion at the end of June 2021 to Dh3.233 trillion at the end of July 2021, the Central Bank of the UAE said on Wednesday.
A year ago, total assets of banks in the UAE increased by 7.6 per cent year-on-year at the end of September 2020, and two per cent quarter-on-quarter to Dh3.253 trillion.
Total bank deposits increased by 0.3 per cent, increasing from Dh1.909 trillion at the end of June 2021 to Dh1.915 trillion at the end of July 2021, attributable to 0.1 per cent increase in resident deposits and 2.3 per cent rise in non-resident deposits respectively, a CBUAE said in a statement.
Resident deposits rose due to 3.5 per cent, rise in government sector deposits, overshadowing the fall in deposits from GREs, private sector and non-banking financial institutions’ by 2.0 per cent, 0.2 per cent and 4.4 per cent respectively.
Money supply aggregate M1 decreased by 0.8 percent, from Dh659.5 billion at the end of June 2021 to Dh653.9 billion at the end of July 2021.
The money supply aggregate M2 also decreased by 0.7 per cent, from Dh1.489 trillion at the end of June 2021 to Dh1.478 trillion at the end of July 2021.
The money supply aggregate M3 increased by 0.1 percent, from Dh1.773 trillion at the end of June 2021 to Dh1.775 trillion at the end of July 2021.
In the second quarter 2021, banks in the UAE continued to account for the biggest share of regional banking balance sheet with total assets of $840 billion, accounting for a third of the total banking sector assets in the GCC, followed by Saudi Arabian banks at $771 billion or 26.7 per cent of the aggregate, analysts at Kamco Invest said in their GCC Banking Report.
Gross credit extended by banks in the UAE witnessed a marginal growth of 0.9 per cent during Q2-2021 after showing declines of 1.4 per cent during the previous two quarters. Total gross credit stood at Dh 1.77 trillion at the end of Q2-2021, based on preliminary numbers, slightly higher than pre-pandemic gross credit of Dh1.76 trillion at the end of 2019.
Banks based in the UAE reported the biggest increase in profits during the second quarter, registering a growth of 11.8 per cent after nine out of 16 listed banks in the UAE reported an increase in net profits.
First Abu Dhabi Bank reported the biggest absolute growth in profits that reached $783.7 million in Q2-2021 as compared to $674 million in Q1-2021. ADCB and Dubai Islamic Bank followed in terms of absolute profit growth, registering increases of 25.1 per cent and 19.3 per cent q-o-q, respectively. On the other hand, Bank of Sharjah continued to report loss during the quarter that reached $93.9 million in Q2-2021.
— issacjohn@khaleejtimes.com
The paths of these two stars have intersected on several occasions due to their association with the luxury brand Bulgari
entertainment4 hours ago
The students' demands range from a ceasefire in Israel's war with Hamas to calls for universities to stop investing in Israeli enterprises
world4 hours ago
Despite Kohli's flowing form ahead of the T20 World Cup in June, pundits have raised concerns over his strike-rate
cricket5 hours ago
Saudi Arabia has begun to explore extracting lithium from sea water
business5 hours ago
Speaking after meeting Lebanese leaders, French foreign minister says there had been "a lot of progress" over the French proposals
mena5 hours ago
The three-shot winner from Japan says he is aiming to become a member of the PGA Tour in the future
sports5 hours ago
Big-hitting Nienaber falters at the finish to settle for secondwhile former Abu Dhabi resident David Horsey takes the third spot at Saadiyat Beach Golf Club
sports6 hours ago
The UAE is India's second-largest export destination after the US
economy6 hours ago