Home Page - Gulf in the Media
HomePoliticsEconomy                               Set Gulfinthemedia.com as home page
 Print  Send This Page
Save Listen to this Article
UAE banks' Q1 assets jump to Dhs1.75tr   

Gulf Today - 21 April, 2017

The total assets of 10 UAE banks jumped to Dhs1.75 trillion by the end of first quarter of 2017, a 9.3 per cent growth from Dhs1.6 trillion recorded over the same period last year.

A WAM analysis has found out that the growth in assets of the 10 banks whose first quarter financial statements were announced until April 20th is attributable to an increase in the value of bank deposits registered during the first quarter of the year, which amounted to Dhs1.11 trillion, a 4.4 per cent increase over the same period last year.

The UAE banks continue to book robust growth despite the state of deceleration witnessed by the banking sector globally, according to banking sources who have cited the positive results recorded over the past three months as an example for the resilience boasted by UAE banks in comparison with other banks in the region.

According to UAE Central Banks statistics, the UAE banks’ solvency ratio has reached 19 per cent, which exceeds the requirements of Basel III, a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector.

The Central Bank started effective this year to apply part of these measures.

In a positive sign reflecting the growth posted by the UAE banks, a total of Dhs23 billion in loans was provided over the first three months of the year by the banks whose Q1 financial statements were disclosed, bringing to Dhs1.03 trillion their total loans, a 2.3 per cent increase over the same period in 2016.

In terms of assets, the First Abu Dhabi Bank, the new banking entity created by the merger of National Bank of Abu Dhabi and First Gulf Bank, came first with Dhs682.4 billion worth of assets, followed by the Emirates NBD’s Dhs 452 billion assets, with both banks accounting for 64.8 per cent of the 10 banks’ total assets.

The Dubai Islamic Bank came third with of Dhs187 billion of assets, followed by Mashreq Bank with Dhs120.7 billion and then the Union National Bank with Dhs104.6 billion of assets.
 
  Other Top News
Saudi Forum 2017 to tackle opportunities as govt aims to hike FDI to 5.7% of GDP
Saudi Arabia is aiming to increase the foreign direct investment from 3.8% of its current GDP to about 5.7% in 2017, as part of its efforts to diversify its economy and boost investment inflows into the kingdom...
Dubai SME, CCCP, IP Academy join hands
Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, and the Commercial Compliance & Consumer Protection (CCCP) sector in Dubai Economy, have signed a memorandum of understanding (MoU) with the IP Academy Singapore to..
Tunisia seeks Qatari investments in tourism development
Tunisia is inviting Qatari investors to participate in more than 10 major projects for the development of the North African country's tourism industry, a government official said yesterday...
New Bahrain hotels to draw $10bn investment
Fifteen new five and four-star hotels and beachfront resorts with a combined investment of more than $10 billion will be established in Bahrain over the next five years, a report said...
Annual minerals, mining exports exceed $7b
Iran's minerals and mining industries exports exceeded $7 billion in the previous Iranian calendar year 1395 (March 2016-March 2017), according to the latest data released by the Customs Administration...
Fri Apr 28, 2017| 01-شعبان-1438هـ
Syria expands anti-Daesh operations
Riyadh celebrates first Saudi Women's Day
UAE summons Iran's diplomat
Trump turns up the heat on Iran, but no clear game plan yet
Qatar tops world in BMI index for investment attractiveness
Qaeda kills Yemen police, targeted in US raid
Iran targets $8.6bn of refinery deals with Asia firms
UN chief: Syria dialogue must focus on transition for success
US President Trump strongly supports Iraq - envoy
DGCX traded 1.37m contracts valued at $33b in January
Iran rejects 'baseless' warning from US on missile test
GCC consumers spend $9.3 billion on beauty, personal care products
HM King hails parliament's role
Saudi sentenced 7 years in prison for entering Syria, joining Al-Nusra
AD CP, Emir of Qatar discuss ties
  Op-Ed
More>>  
    Reports
NBK Report on oil markets
GCC Banking Sector Quarterly - 2Q16
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    GRC Analysis
UAE'S NON-OIL TRADE HITS DHS1.2 TRILLION
The Benefits of NATO-GCC Strategic Ties
The GCC and the EU's New Global Strategy
    GRC Commentary
Climate COP 22 in Marrakech Important for the Region
Earth Day 2016: The Promised Day
An Evolving Saudi-US Relationship
    GRC Press Release
Gulf Research Center press releases to the media
    GRC Publications
The GCC and the Global Oil Market in 2016
GCC and Regional Issues
GCC Economies: Vision Plans and Outlook
    GRC Newsletters/Bulletins

Enter your email to get the Newsletter
Go
GRC Publication
      
Privacy Policy | Contact Us | Terms & Conditions | About Us |
Weather | Qibla Directions | Hijri Date Conversion Tool
Full Page :total time:0  |   53-- 53 Middle Page :0  --   | Right : 53 - 53-nonexist-en--sess-enreq-en-coming