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ABU DHABI / WAM
The net foreign assets held by the UAE national banks grew 17.5 percent to AED79.8 billion during the first fourth months of this year as compared to December 2019, statistics by the central bank of the UAE shows.
The growth stems from the increase in the total balance of foreign assets of these banks to AED684.8 billion  during the reference period, according to the apex bank’s figures.
The rise in the foreign assets balance is reflective of the strong financial profile boasted by the Emirati banks which accounted for 84 percent of the total cumulative balance of foreign assets held by all UAE-based banks during the reference period, which are estimated at around AED814.9 billion.
On a month-to-month basis, the total balance of these assets stood at around AED 659.55 billion in January, hitting some AED667.7 billion in February, before declining to AED665.45 billion in March, then climbed to AED684.8 billion in April.