National banks’ gross assets in UAE stand at AED 3 trillion in first five months of 2022: CBUAE

Total assets of the 22 national banks rose to AED 3.023 trillion in the first five months of 2022, up 4 percent (AED 117.3 billion), according to latest statistics released by the UAE Central Bank (CBUAE).

Assets of national banks accounted for 87.8 percent of gross banking sector’s assets of AED 3.442 trillion by end of last May, against 12.2 percent for foreign banks.

Assets of the 37 foreign banks rose 2.22 percent (AED 9.1 billion) to AED 419.4 billion by end of May from AED 410.3 billion in May 2021.

In the first five months of the year, foreign banks’ assets grew by AED 3.9 billion or 0.94 percent.