By: Mahmoud Gamal

Abu Dhabi – Mubasher: The UAE national banks’ assets rose by 7% or AED 145 billion ($39.46 billion) in the first nine months of 2018.

Total assets amounted to AED 2.838 trillion ($772.5 billion) at the end of September, versus AED 2.693 trillion ($773.04) in December, according to a report released by the Central Bank of the UAE (CBUAE).

The national banks’ deposits grew by 6.2% to AED 1.728 trillion in the January-September period of this year, from AED 1.627 trillion in December, data showed.

Moreover, loans increased to AED 1.638 trillion in the nine-month period ended September, as compared with AED 1.580 trillion in December.

The CBUAE also reported that the national banks raised their investments in treasury bonds (T-bonds) by 6% or AED 11.8 billion in September.

National banks invested around AED 207.4 billion ($56.45 billion) in T-bonds at the end of September, versus AED 195.7 billion ($53.27 billion) in the same month last year.

Month-on-month, banks’ investments in T-bonds increased by 3.8% or AED 7.7 billion, compared to AED 199.7 billion in August.

Translated by: Mai Ezz El-Din