Assets Of 13 Listed UAE Banks Surge To AED1.41 Trillion In H1
The assets of 13 UAE banks have surged to AED1.41 trillion by the end of the H1 2017, a growth of 6.8 percent from AED1.31 trillion in the corresponding period in 2016.
Data revealed by the 13 listed banks until July 20, 2017, indicated an increase to AED963 billion in deposits by the end of the same period this year, 8.2 percent up from AED890 billion in the same period last year.
According to the UAE Central Bank May report, the banking sector solvency reached 18.6 percent, reflecting the resilience of the banking system in the country and its conformity with international standards, primarily Basel III, a global, voluntary regulatory framework on bank capital adequacy, stress testing, and market liquidity risk.
The aggregate loans provided by the thirteen banks surged to AED906.8 billion by the end of the H1, a 7 percent growth from AED846.9 billion over the same period 2016.
The growth witnessed by the UAE banking sector translates the bullish trend in the UAE markets and reflects a positive outlook for the coming period of the year.
Emirates NBD claimed the largest share of assets with AED456.2 billion by the end of the first half, followed by the ADCB at AED259.2 billion, and Dubai Islamic Bank at AED193 billion.
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