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Gulf Today
24-07-2025
- Business
- Gulf Today
UAE banking sector assets exceed Dhs4.749 trillion by end of April
Total banking sector assets in the UAE, including bankers' acceptances, rose by 0.6 per cent month-on-month to exceed Dhs4.749 trillion at the end of April 2025, up from approximately Dhs4.719 trillion at the end of March. According to the Summary Report - Monetary & Banking Developments - April 2025 issued on Wednesday by the Central Bank of the UAE (CBUAE), total bank credit increased by 0.9 per cent to surpass Dhs2.259 trillion at the end of April, compared to Dhs2.240 trillion at the end of March, driven by a rise of Dhs12.3 billion in domestic credit and Dhs7.1 billion in foreign credit. The growth in domestic credit was attributed to a 0.7 per cent increase in credit to the government sector, a 1.2 per cent increase to the public sector (government-related entities), and a 0.6 per cent increase to the private sector. Meanwhile, credit to non-banking financial institutions declined by 4.3 per cent. Total bank deposits also rose by 1 per cent month-on-month to exceed Dhs2.965 trillion at the end of April, compared to Dhs2.936 trillion at the end of March. This increase was driven by a 0.1 per cent rise in resident deposits, which reached over Dhs2.689 trillion, in addition to a 10.9 per cent increase in non-resident deposits to Dhs275.6 billion. Within resident deposits, government sector deposits rose by 0.9 per cent, and private sector deposits increased by 1.1 per cent. However, deposits from non-banking financial institutions fell by 9.2 per cent, and deposits from government-related entities declined by 6.5 per cent. The central bank also reported a 2.6 per cent increase in the monetary aggregate M1, which reached Dhs1.0119 trillion at the end of April, up from Dhs986.2 billion at the end of March. This was due to a Dhs26.9 billion increase in monetary deposits, which offset a Dhs1.2 billion decline in currency in circulation outside banks. Conversely, the M2 aggregate declined by 0.1 per cent to Dhs2.435 trillion at the end of April, compared to Dhs2.4377 trillion in March, driven by a Dhs27.8 billion fall in quasi-monetary deposits. The M3 aggregate increased by 0.2 per cent from Dhs2.8937 trillion in March to Dhs2.8982 trillion in April, mainly due to a Dhs6.6 billion increase in government deposits. Data also showed a 1.7 per cent decline in the monetary base, from Dhs833.1 billion in March to Dhs819 billion in April, attributed to a 2.5 per cent drop in issued currency and a 32.0 per cent fall in reserve accounts, despite a significant 159.8 per cent surge in current accounts and overnight deposits held by banks and other financial institutions at the central bank, as well as a 3.1 per cent rise in monetary bills and Islamic certificates of deposit. Meanwhile, the central bank's foreign assets increased to Dhs937.5 billion at the end of April, compared to Dhs935.2 billion at the end of March. As of the end of April, these foreign assets comprised Dhs403.2 billion in bank balances and deposits abroad, Dhs490.1 billion in foreign securities, and Dhs44.1 billion in other foreign assets. The central bank's balance sheet totalled Dhs972.3 billion, with liabilities and capital consisting of Dhs449.1 billion in current accounts and deposit accounts, Dhs279.9 billion in monetary bills and Islamic certificates of deposit, Dhs165.2 billion in currency notes and coins in circulation, Dhs33.2 billion in other liabilities, and Dhs45 billion in capital and reserves. On the asset side, the balance sheet comprised Dhs210.9 billion in cash and bank balances, Dhs208 billion in deposits, Dhs516.8 billion in investments, Dhs0.5 billion in loans and advances, and Dhs36.2 billion in other assets. Meanwhile, Commercial Bank of Dubai (CBD) has announced its financial results for the second quarter and first half of 2025, achieving a remarkable milestone of 20 consecutive quarters of profit growth. The Bank reported a net profit before tax of Dhs1.862 billion, representing a 16.7 per cent increase compared to the same half last year. CBD's strong growth was further underscored by its total assets surpassing Dhs150 billion for the first time in its history, reflecting sustained momentum and strategic execution. This performance has been driven by solid customer engagement, robust lending activity, and broad-based economic expansion supported by public sector investments and population growth. Dr. Bernd van Linder, Chief Executive Officer, said, 'Delivering 20 consecutive quarters of net profit growth whilst growing the balance sheet to exceed Dhs 150 billion are significant milestones for CBD. Our consistent performance over the past five years, despite global headwinds such as the pandemic, volatile interest rates and supply chain disruptions, demonstrates the strength of our strategy and our continued commitment to customers. We are pleased with the latest performance which is a testament to our disciplined growth and market leadership. We remain focused on delivering on our strategic targets for 2025 and beyond.' CBD's transformation agenda continues to deliver results. The Bank recorded its highest SME Net Promoter Score in over three years for H1 2025, following enhancements to onboarding and service delivery. At the same time, CBD's leadership in innovation was recognised through multiple industry awards, including Best Digitisation Initiatives, Best Mobile Banking Services, and Best Technological Innovation in Financial Services, affirming its digital-by-design ethos. WAM
Al Etihad
23-07-2025
- Business
- Al Etihad
UAE banking sector assets exceed Dh4.749 trillion by end of April
23 July 2025 17:34 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 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 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 credit to non-banking financial institutions declined by 4.3 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 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 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 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 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 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 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 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 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 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.
India Today
10-07-2025
- Politics
- India Today
How Mamata mapped NITI Aayog goof-up into her Bengal ‘identity' narrative
The West Bengal government has expressed deep dismay and unequivocal condemnation over an embarrassing lapse in an official publication of the NITI Aayog. In its 'Summary Report for the State of West Bengal', published on the Aayog's official website in March, the central policy body has mistakenly used the map of Bihar in place of Bengal' goof-up has been denounced by the Mamata Banerjee government as an affront to the state's identity and dignity. 'Such a grave error in an official document of national importance reflects a shocking lack of diligence and respect towards the states of the Union,' chief minister Mamata Banerjee noted in a letter to NITI Aayog vice-chairperson Suman Bery. She said such lapses severely undermined the credibility, authenticity and reliability of the Aayog's reports, which are heavily relied upon by policymakers, administrators and timing of the error has sharpened the controversy. The distorted representation of Bengal comes amidst the Trinamool Congress (TMC) accusing BJP-ruled states of persecuting Bengali-speaking migrant workers by branding them as illegal Bangladeshi July 8, Mamata issued a strong statement after reports emerged that a Foreigners' Tribunal in Assam had served a National Register of Citizens (NRC)-related notice to a Rajbanshi man, Uttam Kumar Brajabasi. He is apparently from Dinhata in Cooch Behar and has lived in India for over 50 years. 'I am shocked and deeply disturbed,' Mamata stated. 'Despite furnishing valid identity documents, he is being harassed on suspicion of being a 'foreigner/illegal migrant'. This is unacceptable.' Brajabasi is not an isolated case. Just days ago, West Bengal chief secretary Manoj Pant had written to his counterpart in BJP-ruled Odisha, raising alarm over repeated incidents of Bengali-speaking workers being targeted or detained on the suspicion that they are illegal Bangladeshis residing in India. Pant's letter cited specific concerns about unjust profiling and harassment of migrant workers in districts such as Paradip, Kendrapara, Balasore, Jagatsinghpur and Cuttack.'These individuals are being asked to produce ancestral land records dating back several generations—an unreasonable and unjustifiable demand for migrant labourers,' Pant wrote. 'Even when valid Aadhaar, ration, voter ID, and electricity and PDS (public distribution system) documents are presented, their claims are being dismissed. This is deeply distressing.'The issue has escalated to the national level, with Mamata's party claiming a pattern of linguistic profiling and xenophobic persecution in BJP-ruled states, such as Gujarat, Maharashtra, Madhya Pradesh, Delhi and weeks ago, seven residents of Bengal were reportedly detained by the Mumbai police and allegedly pushed into Bangladesh. They were brought back with the intervention of the Bengal government. In another instance, eight family members of migrant workers from Cooch Behar were detained in Delhi on similar July 9, the TMC took to social media to issue a scathing rebuke. 'A WITCH HUNT is underway against Bengalis in BJP-ruled states. 444 workers from Bengal have been detained by @odisha_police on suspicion of being 'Bangladeshi nationals'. Targeted raids are being carried out in Bengali-speaking colonies This is nothing short of XENOPHOBIC PERSECUTION,' the party posted on TMC dubbed these incidents as part of a broader agenda to replicate Assam's NRC model in Bengal, where the BJP aspires to assume power after polls next year. 'This unconstitutional overreach is anti-people,' the TMC wrote. 'It exposes the BJP's dangerous agenda of bulldozing democratic safeguards and erasing the identity of Bengal's people.'advertisementThe Odisha police denied any witch-hunt. 'We understand the concerns raised regarding the holding of individuals in Jharsuguda. However, safeguarding national interest and security remains paramount and cannot be compromised. The individuals under scrutiny lack valid documentation to establish their residency or citizenship, necessitating a thorough verification process to ascertain their identity,' said top Odisha police officer Himanshu Kumar Lal in a social media issues are likely to reverberate in the Bengal assembly election campaign in 2026. With Mamata positioning herself as the defender of Bengali identity and rights against a BJP onslaught, the TMC will be working doubly to consolidate its base by framing the narrative on the cultural and regional survival of the people of the NITI Aayog map error, in this context, may be used as a symbol of perceived indifference—or even hostility—from the BJP-led central government. For Mamata's strategists, it is a controversy that offers an opportunity to deepen the TMC's emotive appeal, reinforce the projection of the BJP as a 'Hindi heartland' party and turn the 2026 elections into not just a political battle but one for cultural to India Today Magazine- EndsMust Watch
Time of India
10-07-2025
- Politics
- Time of India
Affront to Bengal's dignity: CM on NITI's map goof-up
Kolkata: A summary report on Bengal, showing a map of Bihar instead of the state on the cover page, prompted CM on Wednesday to write a strongly worded letter to its vice-chairman, Suman K Bery, demanding an immediate "clarification and apology". Tired of too many ads? go ad free now "I am writing with deep concern and unequivocal disapproval that in the 'Summary Report for the State of West Bengal', published by NITI Aayog and available on its website... the map intended to represent the state of West Bengal has depicted the territory of Bihar in its place," the CM wrote. Later in the day, the page was no longer available. Banerjee said in her letter: "Such a grave lapse in an official document of a premier national institution is not merely a technical error but an affront to the identity and dignity of the state of West Bengal. Such a blunder in an official publication of NITI Aayog reflects an alarming lack of diligence and respect towards the States of the Union." Such representations "raise legitimate concerns about the rigour and reliability of the institution's work, which policymakers and citizens alike depend upon for accurate and informed decision-making, and cast significant doubt on the quality, authenticity, and credibility of reports and publications of NITI Aayog," she wrote. "The govt of West Bengal strongly condemns this inaccuracy and calls upon NITI Aayog to issue a clarification and apology and take immediate corrective action to rectify the document and to institute robust mechanisms to prevent such lapses in future," Banerjee added. Trinamool spokesperson Saket Gokhale also took to X to say it was "pathetic" that the Centre couldn't even place Bengal on an India map. Gokhale pointed out that BJP had 12 Lok Sabha MPs from Bengal, including two junior Union ministers, but "shamelessly" showed Bihar as Bengal on a map. Tired of too many ads? go ad free now Linking this with the issues, including NRC, that have pitted Trinamool govt against the Centre, Gokhale said: "BJP has been targeting and harassing Bengalis in every state ruled by them. CM Mamata Banerjee has also exposed how the Modi govt wants to impose NRC in Bengal out of fear of losing elections." posted on X: "We demand that NITI Aayog issue a formal clarification, offer an unconditional apology, take immediate corrective steps to rectify the document, and establish strong quality control mechanisms to prevent such egregious lapses in the future."
The Hindu
09-07-2025
- Politics
- The Hindu
Mamata writes to NITI Aayog Chairperson as a report on West Bengal shows map of Bihar
West Bengal Chief Minister Mamata Banerjee wrote to the NITI Aayog vice-chairperson on Wednesday (July 9, 2025) expressing deep concern that the map intended to show West Bengal in a report has instead printed the map of Bihar. In her letter addressed to Suman Bery, she mentioned the report titled, 'Summary Report for the State of West Bengal' which was published by NITI Aayog on their website and was still available with the wrong map when this report was written. In a post shared on social media handle X, Ms. Banerjee has called this a 'grave lapse in mapping West Bengal' and voiced her 'unequivocal disapproval' for the misrepresentation. In its Summary Report on West Bengal, @NITIAayog has shockingly misrepresented Bengal as Bihar. This is a calculated, deliberate affront to Bengal's identity, culture, and dignity. NITI Aayog must issue an unconditional public apology, immediately correct the document, and hold… — All India Trinamool Congress (@AITCofficial) July 9, 2025 'Such a grave lapse in an official document of a premier national institution is not merely a technical error but an affront to the identity and dignity of the State of West Bengal. Such a blunder in an official publication of NITI Aayog, reflects an alarming lack of diligence and respect towards the States of the Union,' Ms. Banerjee's official letter to the NITI Aayog officials read. She also raised doubts about the rigor and reliability of the institution's work and said that they are a government organisation who the people depend on for authentic information and such misrepresentation can lead to major doubt about the credibility of the organisation. On behalf of the West Bengal Government, the CM asked for an explanation and a formal apology from the NITI Aayog officials and requested them to take immediate corrective steps to rectify the mistake on the official document. She also asked the officials to ensure that such mistakes do not happen in the future. Trinamool Congress also took their official social media handle on X and said that such mislabeling of maps can lead to questions about the credibility of NITI Aayog's reports and publications. 'This is a direct affront to Bengal's identity and dignity, raising serious concerns about the rigour and authenticity,' the TMC official post stated, 'Trust the country's apex policy think tank to confuse Bengal with Bihar in an official state summary.'
