ABU DHABI, 9th June, 2023 (WAM) — Bank investments in UAE hit AED 548.5 billion by the end of March, the highest level in the country’s history, a report by the Central Bank of the United Arab Emirates revealed. The report, issued today, showed a YoY growth of 16 % compared to about AED 472.7 billion in March 2022. Month over month, these investments climbed by 1.3% from AED541.4 bn in February 2023. Securities accounted for the majority of bank investments, around 45.6%, or AED 250.1 billion during the reference period. Held-to-maturity (HTM) securities accounted for 43% of the total investments, reaching AED236.3 billion in March, a YoY growth of 74.1% from AED135.7 billion in March 2022, and a 2.6 % monthly increase from AED230.3 billion in February 2023. The bank stock investments reached AED11.9 billion in March, a rise of approximately 0.8% from around AED11.8 billion in December 2022. Tariq Al Fahaam/ Hatem Mohamed

Source: Emirates News Agency (WAM)