UAE banking sector assets exceed Dh4.749 trillion by end of April
ABU DHABI (WAM)Total banking sector assets in the UAE, including bankers' acceptances, rose by 0.6 percent month-on-month to exceed Dh4.749 trillion at the end of April 2025, up from approximately Dh4.719 trillion at the end of March.According to the Summary Report - Monetary & Banking Developments - April 2025 issued Wednesday by the Central Bank of the UAE (CBUAE), total bank credit increased by 0.9 percent to surpass Dh2.259 trillion at the end of April, compared to Dh2.240 trillion at the end of March, driven by a rise of Dh12.3 billion in domestic credit and Dh7.1 billion in foreign credit.The growth in domestic credit was attributed to a 0.7 percent increase in credit to the government sector, a 1.2 percent increase to the public sector (government-related entities), and a 0.6 percent increase to the private sector.Meanwhile, credit to non-banking financial institutions declined by 4.3 percent.Total bank deposits also rose by one percent month-on-month to exceed Dh2.965 trillion at the end of April, compared to Dh2.936 trillion at the end of March.This increase was driven by a 0.1 percent rise in resident deposits, which reached over Dh2.689 trillion, in addition to a 10.9 percent increase in non-resident deposits to Dh275.6 billion.Within resident deposits, government sector deposits rose by 0.9 percent, and private sector deposits increased by 1.1 percent. However, deposits from non-banking financial institutions fell by 9.2 percent, and deposits from government-related entities declined by 6.5 percent.The central bank also reported a 2.6 percent increase in the monetary aggregate M1, which reached Dh1.0119 trillion at the end of April, up from Dh986.2 billion at the end of March. This was due to a Dh26.9 billion increase in monetary deposits, which offset a Dh1.2 billion decline in currency in circulation outside banks.Conversely, the M2 aggregate declined by 0.1 percent to Dh2.435 trillion at the end of April, compared to Dh2.4377 trillion in March, driven by a Dh27.8 billion fall in quasi-monetary deposits.The M3 aggregate increased by 0.2 percent from Dh2.8937 trillion in March to Dh2.8982 trillion in April, mainly due to a Dh6.6 billion increase in government deposits.Data also showed a 1.7 percent decline in the monetary base, from Dh833.1 billion in March to Dh819 billion in April, attributed to a 2.5 percent drop in issued currency and a 32.0 percent fall in reserve accounts, despite a significant 159.8 percent surge in current accounts and overnight deposits held by banks and other financial institutions at the central bank, as well as a 3.1 percent rise in monetary bills and Islamic certificates of deposit.Meanwhile, the central bank's foreign assets increased to Dh937.5 billion at the end of April, compared to Dh935.2 billion at the end of March.As of the end of April, these foreign assets comprised Dh403.2 billion in bank balances and deposits abroad, Dh490.1 billion in foreign securities, and Dh44.1 billion in other foreign assets.The central bank's balance sheet totalled Dh972.3 billion, with liabilities and capital consisting of Dh449.1 billion in current accounts and deposit accounts, Dh279.9 billion in monetary bills and Islamic certificates of deposit, Dh165.2 billion in currency notes and coins in circulation, Dh33.2 billion in other liabilities, and Dh45 billion in capital and reserves.
On the asset side, the balance sheet comprised Dh210.9 billion in cash and bank balances, Dh208 billion in deposits, Dh516.8 billion in investments, Dh0.5 billion in loans and advances, and Dh36.2 billion in other assets.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sharjah 24
6 hours ago
- Sharjah 24
CBUAE issues 2024 Financial Stability Report
The report affirmed the robustness of the UAE banking sector, supported by strong capital and liquidity buffers, alongside improved asset quality and continued growth. Financial stability risks in the country remained broadly contained and unchanged, due to robust economic fundamentals, prudent policies, and effective risk management. The report reviews domestic and global macroeconomic trends, financial market conditions, the performance of various sectors, and regulatory developments, with a focus on resilience aspects and emerging risks. It also underscores the CBUAE's commitment to fostering proactive risk monitoring, innovation, and transparency, supporting financial system resilience, and collaborating with local and international partners to enhance the UAE's position as a leading global financial hub. The strong performance of the financial system contributed to enhancing the nation's economic resilience. The UAE's real GDP grew by 4 percent in 2024, driven by growth momentum in the non-oil sector, a key driver for economic diversification. The overall GDP growth outlook is also expected to remain positive for the coming years, reaching 4.4 percent in 2025 and rising to 5.4 percent in 2026. In 2024, the UAE's financial system experienced robust and stable conditions. A significant step in enhancing coordination among key stakeholders was the operationalisation of the UAE Financial Stability Council, chaired by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, Chairman of the Central Bank and Chairman of the Financial Stability Council. This move represented a crucial stride towards bolstering coordination among stakeholders, activating systemic risk oversight, facilitating the assessment of emerging risks, and streamlining timely policy responses to horizontal risks. 2024 also saw the CBUAE reinforce its regulatory and supervisory frameworks through the implementation of new macroprudential tools, strengthening cybersecurity requirements, advancing in sustainable finance, and expanding the scope of climate change risk assessment, in line with international best practices. The comprehensive stress tests conducted by the CBUAE in 2024 confirmed the ability of the UAE's banks to absorb macroeconomic shocks, continue providing credit facilities even under hypothetical adverse scenarios, and maintain high levels of capital and liquidity exceeding minimum requirements, highlighting the banking sector's resilience in addressing global risks. The UAE's non-bank financial institutions (NBFIs) sector achieved significant positive results at various levels. The insurance sector remained resilient, with adequate solvency positions and substantial growth of 21.4 percent, bringing total gross written premiums to AED64.8 billion, thereby reinforcing policyholders' rights. Overall, finance companies maintained adequate capitalisation with further improvements in liquidity levels, while money exchange businesses continued to demonstrate their resilience and operational stability. 2024 also witnessed an acceleration in digital transformation, reflected in increased adoption rates of FinTech and digital payments, the expansion of banking services, and the integration of artificial intelligence and data analytics. The CBUAE continued to develop the national payment and settlement infrastructure through the launch of the Domestic Card Scheme "Jaywan", the widespread adoption of the 'Aani' Instant Payment Platform, and the progress made in the central bank digital currency (CBDC) "Digital Dirham", all of which enhanced the financial system's efficiency and resilience. The report anticipates that the outlook for the UAE's financial system will remain positive, supported by robust economic fundamentals, prudent economic management, and the CBUAE's efforts to support financial system resilience, enhance proactive risk monitoring, innovation, and transparency. Khaled Mohamed Balama, Governor of the CBUAE, said, "The UAE maintained strong economic and financial conditions in 2024, despite growing economic challenges and increasing global risks, supported by national economic growth and the banking system's robustness and resilience. "At CBUAE, we are committed to steadily progressing towards achieving the vision of our wise leadership, the nation's development plans, and our strategic objectives by developing the financial system's regulatory and supervisory framework to ensure sustainable resilience, enhance financial and economic stability, and drive growth momentum and prosperity in the UAE."
Khaleej Times
7 hours ago
- Khaleej Times
UAE's GDP to surge stronger in 2026 on back of buoyant financial system: CBUAE
The overall growth trajectory of the UAE economy is expected to continue its upward trend, with the Central Bank of the UAE (CBUAE) forecasting 4.4 per cent growth in 2025 and a stronger rise to 5.4 per cent in 2026. Unveiling its 2024 Financial Stability Report, the apex bank portrayed a buoyant financial system and projected reassuring economic growth for the years ahead. The optimistic outlook is reinforced by independent forecasts from the International Monetary Fund (IMF) and the World Bank, offering further validation of the UAE's stability and resilience. CBUAE's report highlights that real GDP grew by four per cent in 2024. Non‑hydrocarbon sectors led the charge, expanding by around five per cent, while the hydrocarbon sector rebounded modestly by one per cent. Independent institutions echo this confidence. The IMF projects real GDP growth of roughly four per cent in 2025, increasing to five per cent in 2026. The World Bank has revised its estimates upward, now forecasting UAE GDP growth of 4.6 per cent in 2025 and 4.9 per cent in both 2026 and 2027, with the non‑oil economy expected to expand by 4.9 per cent in 2025. Meanwhile, the World Bank projects GCC-wide growth of 3.2 per cent in 2025, rising to 4.5 per cent in 2026. CBUAE Governor Khaled Mohamed Balama emphasised that prudent policies, robust fundamentals, and proactive regulatory frameworks have helped insulate the UAE from growing global risk and support sustained momentum. This aligns with national strategies and global leadership aspirations, as the financial system evolves to support long-term economic vision and growth . Growth drivers in 2025–26 are expected to include both oil and non‑oil sectors. Hydrocarbon-related GDP is forecast to grow by 4.1 per cent in 2025 and surge by 8.1 per cent in 2026 amid easing Opec+ production quotas. Non‑hydrocarbon activity is likely to sustain a 4.5 per cent growth rate over both years, backed by public investment, diversification strategies, and private-sector dynamism. International observers highlight the UAE's capacity to maintain stronger-than-average growth compared to its regional peers. As the IMF notes, GCC growth is projected at 3 per cent in 2025 and 4.1 per cent in 2026, while non‑oil exporters in Mena continue to face slower prospects amid global uncertainty. The World Bank stresses that careful public spending in infrastructure, education, and green energy is key to translating growth into resilience across the region. According to economists, in practical terms, the outlook suggests that the UAE will remain a magnet for investment and capital inflows, supported by surpluses, moderate inflation, and stable sovereign buffers. The World Bank anticipates the current account surplus standing at around 6.2 per cent of GDP in 2025, rising further to 6.4 per cent in 2026. Job creation is expected to remain healthy as well, with employment growth projected at 3.3 per cent in 2025 and an unemployment rate holding at around 2.1 per cent. In sum, CBUAE's 2024 Financial Stability Report, supported by independent global institutions, presents a compelling picture of a UAE economy underpinned by safeguarding regulations, innovation, and prudent fiscal management. 'With diversified growth engines firing across oil, finance, tourism, and logistics, enhanced oversight structures, and digital transformation marking progress, the outlook through 2025 and 2026 is decidedly optimistic,' says Sunil Ambalavelil, a leading financial and legal consultant. 'The UAE appears well positioned to deliver sustained stability, moderate but steady expansion, and resilience even against a shifting global economic backdrop,' Ambalavelil added. These forecasts provide robust endorsement of the CBUAE's internal projections and reflect international confidence in the UAE's economic strategy—particularly its diversification and reform agenda. CBUAE emphasises that the stability of the financial system is underpinned by strong capital and liquidity buffers, improved asset quality, and effective macro‑prudential regulations. The introduction of the UAE Financial Stability Council in 2024 has enhanced coordination among key stakeholders, facilitating faster responses to systemic risks and improving oversight. Stress tests commissioned by CBUAE confirmed banks' ability to withstand adverse scenarios while continuing to extend credit and maintaining sufficient capital above regulatory minimal. The report also notes resilience among non‑bank financial institutions. The insurance sector saw written premiums rise 21.4 per cent in 2024, reaching Dh64.8 billion, while finance companies and money exchanges maintained healthy capital and liquidity positions. Digital innovation accelerated in 2024 with expanded FinTech adoption and rollouts like the Domestic Card Scheme 'Jaywan', the Aani Instant Payment Platform, and the advancing 'Digital Dirham' central bank digital currency pilot—these initiatives bolstered efficiency, inclusion, and systemic resilience, the report said.
Al Etihad
9 hours ago
- Al Etihad
Hamdan bin Mohammed reviews outcomes of Sheikha Hind Bint Maktoum Family Program
4 Aug 2025 18:52 DUBAI (WAM) His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of Dubai Executive Council, affirmed that the leadership places the highest priority on strengthening family values and fostering social cohesion, while ensuring that all necessary resources and support are made available to build a thriving and prosperous Emirati the outcomes of the Sheikha Hind Bint Maktoum Family Program, His Highness Sheikh Hamdan bin Mohammed emphasised that Dubai's development vision has always placed people at its very in September 2023 by the Community Development Authority (CDA) in Dubai to empower Emirati families and reinforce social stability through a comprehensive set of initiatives, the programme facilitates a host of benefits, including avenues for psychological and social support, financial literacy, and direct assistance in meeting housing and other expenses incurred by new Highness Sheikh Hamdan bin Mohammed applauded the success of the Sheikha Hind Bint Maktoum Family Program in reinforcing the foundations of social stability by supporting and empowering Emirati families through a series of integrated and high-impact initiatives. The programme aligns with the expansive vision outlined for various social empowerment programmes and their role in creating a lasting positive impact that supports the goals of the Dubai Social Agenda review of the programme is part of ongoing efforts to monitor the social empowerment agenda and ensure that various initiatives aimed at advancing those goals achieve sustainable impact in line with Dubai's strategic Highness Sheikh Hamdan bin Mohammed said, 'The programme reflects our deep commitment to empowering our youth and supporting them in building a future that matches their aspirations. A stable family denotes a fundamental pillar in the development and progress of societies. We are committed to providing every prerequisite for young people looking to start a dignified family life – including suitable housing, financial support, enhanced employment opportunities, and expanded social care initiatives. We believe that investing in families is an investment in the nation's future, and we will continue working to provide a wholesome environment that ensures well-being and stability for all.'Praising participants in the programme, His Highness Sheikh Hamdan bin Mohammed said, 'We commend the determination of the youth who have chosen to begin their family lives based on a clear foundation of awareness and responsibility – setting a proud example for a generation that knows how to shape its future through willpower, hard work, and initiative.'The Sheikha Hind Bint Maktoum Family Program has contributed to a significant increase in marriage rates among Emiratis. The Dubai Weddings initiative recorded a 218 percent increase in participation during 2025 compared to 2024, with the number of weddings held to date exceeding 700. Marriages facilitated through the Dubai Weddings initiative accounted for 27.7 percent of all marriages registered in the results also indicated that the largest demographic of beneficiaries consisted of men aged between 26–30 and women aged between 20–25. The programme also recorded an impressive 95 percent beneficiary satisfaction programme offers extensive education and training sessions for couples as part of efforts to ensure the long-term success of marital relationships. Among notable highlights are Start it Right, a course promoting awareness of marital rights and effective approaches to foster mutual understanding; Family Financial Culture – Dubai, which focuses on sound financial planning; and How to Build Your Home, which offers guidance on smart and viable housing programme's benefits extend beyond education, offering tangible solutions that meet real-life needs. It offers full coverage of wedding costs for both men and women when the ceremony is hosted in CDA-approved venues. It also facilitates priority access to ready-to-move-in housing through easy instalment payment schemes. Among other benefits are exclusive discounts on medical services, wedding essentials, jewellery, magazines, and travel. Another advantage comes in the form of a loyalty card under the Esaad programme that offers various community perks. There is also a remote work provision for newlywed female employees following maternity of the Community Development Authority in Dubai, Hessa bint Essa Buhumaid, emphasised that the Sheikha Hind Bint Maktoum Family Program reflects the vision of the leadership in placing family at the core of sustainable development. She noted that strengthening Emirati families is fundamental to building a cohesive and happy stated, 'The programme's achievements are a source of pride. True investment starts within the Emirati household. Seeing young families embark on a key phase of life and welcoming new members into their families under the umbrella of this initiative proves that we are creating not just statistics, but real stories of secure and thriving beginnings.'From awareness to empowerment, and from financial to housing support, we are offering a complete ecosystem that supports families at every stage of their journey. This aligns with the goals of the Dubai Social Agenda 33 and reinforces the city's role as an ideal environment for starting a family and building a future.'Thanking Her Highness Sheikha Hind bint Maktoum bin Juma Al Maktoum, wife of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, for her generous patronage of the initiative, Buhumaid said, 'Dubai Weddings is more than just a scheme providing assistance – it is a gesture rooted in compassion and community spirit.'Through this initiative, Her Highness Sheikha Hind has touched the lives of countless youths, helping them start on the path of family with confidence and clarity. This initiative brought the true essence of social responsibility to life,' she said, reaffirming the Authority's commitment to continuously enhancing the programme through strategic partnerships, positioning it as a leading model for family empowerment and sustainable social development.
