UAE – Mubasher: Total reserves of national banks at the Central Bank of the UAE (CBUAE) grew by 2.5% month-on-month or AED 7 billion in June 2019, Al-Ittihad Newspaper reported.
Banking reserves amounted to AED 305 billion at the end of June, compared to AED 298 billion at the end of May, according to a report released by the CBUAE.
The growth in total reserves was mainly backed by an increase in the certificate of deposits’ value which reached AED 155.8 billion as at 30 June 2019 from AED 147.1 billion at the end of May.
Meanwhile, the banks’ current accounts increased to AED 24.7 billion in the first half of 2019, the report highlighted.
On the other hand, reserve requirement for national banks shrank to AED 124.8 billion at the end of June, versus AED 126.3 billion in May.
The report also highlighted that banks’ liabilities and interests in suspense rose to AED 97.3 billion in June, compared to AED 94.5 billion in May.
