The Central Bank of the United Arab Emirates' (CBUAE) balance sheet soared to AED670 billion at the end of November 2023, a robust 30.4% year on year (YoY) increase compared to AED513.61 billion in November 2022.

 

The CBUAE's balance sheet maintained a steady 21.2% growth rate throughout the first 11 months of 2023. This translates to an additional AED117.2 billion added to the balance sheet, compared to AED552.55 billion at the end of December 2022, an Emirates News Agency (Wam) report said.

 

On the asset side, cash and bank balances remain a major component, valued at AED323.69 billion. Investments and deposits also play a substantial role, totaling AED207.98 billion and AED97.46 billion respectively. Notably, loans and advances have seen healthy growth, reaching AED2.11 billion. Other assets were valued AED38.48 billion.

 

On the other side of the equation, liabilities and capital shows stability with current and deposit accounts holding the leading position at AED292.64 billion. Issuance of monetary licenses and Islamic deposit certificates accounted for AED213.06 billion, while issued banknotes and coins stood at AED133.82 billion.

 

Capital and reserves showed strong standing at AED15.45 billion, demonstrating the bank's financial stability. Notably, other liabilities hold a relatively small share at AED14.75 billion.