Reserves of UAE-based banks increased

According to Amac News: The Central Bank of the UAE said that the capital and reserves of active banks in this country increased by 45.9 billion dirhams or 10.7% compared to 430.7 billion dirhams in March 2023.
According to the Central Bank report, national banks account for approximately 85.5% of the total capital and reserves of UAE-based banks, which at the end of March 2024 totaled 407.7 billion dirhams, which compared to 370 dirhams, 10.2% compared to 0.1 billion in March 2023 has increased last year.
The share of foreign banks reached 14.5% of the total capital and reserves of active banks in the country, whose value reached 68.9 billion dirhams at the end of March 2024, which shows an increase of 13.7% compared to 60.6 dirhams last year.
At the end of March 2024, the total capital and reserves of banks operating in the Emirate of Dubai reached 235.2 billion dirhams, representing an annual growth of 12.9%, banks operating in Abu Dhabi recorded around 204 billion dirhams, an increase of 7.5% over the previous year.
Meanwhile, the total capital and reserves of banks operating in other emirates reached about 37.4 billion dirhams, which was an increase of 14.4 percent compared to the previous year.