Photo used for illustrative purpose.
Total assets of the 22 national banks rose to Dhs3.023 trillion in the first five months of 2022, up 4 per cent (Dhs117.3 billion), according to latest statistics released by the UAE Central Bank (CBUAE).
Assets of national banks accounted for 87.8 per cent of gross banking sector’s assets of Dhs3.442 trillion by end of last May, against 12.2 per cent for foreign banks.
Assets of the 37 foreign banks rose 2.22 per cent (Dhs9.1 billion) to Dhs419.4 billion by end of May from Dhs410.3 billion in May 2021.
In the first five months of the year, foreign banks’ assets grew by Dhs3.9 billion or 0.94 per cent.