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UAE banks' foreign assets up 3% in April

UAE banks' foreign assets up 3% in April
UAE banks' foreign assets grew to AED 814.89bn in April

UAE – Mubasher: The foreign assets of the UAE banking system grew by 3% month-on-month (MoM) to AED 814.89 billion last April from AED 791.64 billion in March 2020.

Since the beginning of 2020, the UAE bank’s foreign-currency assets rose by around 5.7% or AED 43.8 billion, when compared to AED 771.092 billion in 2019, according to the latest statistics of the Central Bank of the UAE (CBUAE).

The ratio of total foreign assets to total assets registered around AED 25.8 billion in April compared to March.

It is noteworthy to mention that the CBUAE's assets of gold ingots increased by 460% year-on-year (YoY) to AED 6.377 billion in April 2020  from AED 1.137 billion in the year-ago period.