AED 791.6 billion foreign assets of the UAE banking system during the first quarter – the economic – the local market

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The total balance of foreign assets with the banking system in the UAE amounted to 791.6 billion dirhams, constituting 25.3% of the total balance of the device, which amounted to 3.128 trillion dirhams at the end of the first quarter of 2020.

Statistics issued by the Emirates Central Bank show that foreign assets with the banking system in the country recorded a growth of 2.6% and an increase of 20.5 billion dirhams during the month of March of this year compared to its balance of approximately 771.1 billion dirhams in December of 2019.

The continuous growth of the balance of the banking system in the UAE from foreign assets reflects the strength of its financial solvency, which prompted it to issue the list of the most powerful banks in the Gulf and Middle East according to the rankings of the major specialized international financial institutions.

It is clear from the tracking of the movement of the foreign assets balance index in the Emirates banks, the continuation of its rise during the last period and in a manner that strengthened the banking system and strengthened its attractiveness.

The balance of foreign assets of banks in the UAE reached 691 billion dirhams in the first quarter of 2019 and then rose to the level of approximately 726.1 billion dirhams in the second quarter of the year and continued to rise to 754.3 billion dirhams in the third quarter until it stabilized at the level of 771.1 billion dirhams at the end of the quarter The last of last year.

With the beginning of January of the year 2020, the balance of foreign assets with the banking system increased to 789.8 billion dirhams, and he continued the rise in February until it reached 795.3 billion dirhams before returning and settling in March of the same year at 791.6 billion dirhams.

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