Abu Dhabi's Reserves, Allocations Stable In October, November

UAE banks' reserves and allocations were stable during October and November 2018 in yet a new testament to the resilience of the banking sector

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 18th Jan, 2019) UAE banks' reserves and allocations were stable during October and November 2018 in yet a new testament to the resilience of the banking sector.

According to the Central Bank of the United Arab Emirates' statistics, total assets held by UAE banks jumped to AEE2.854 trillion by the end of November, a growth of AED166 billion over the same month in 2017.

Reserve requirements across all UAE-based banks stood at AED121.8 billion during the two monitored months while combined private and public allocations reached AED123.2 billion during the same period.

Capital and all types of reserves amounted to AED353.6 billion by the end of November against AED337.3 bn during the same month.

The Lending-to-Stable Resources Ratio remained stable at 82.9 percent by the end of the first eleven months of the last year, with the Eligible Liquid Assets Ratio standing at 17 percent.