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Abu Dhabi / WAM
The total assets of UAE Central Bank rose to AED398.6 billion in twelve months until February 2018, up by more than AED33.78 billion. The assets were AED 364.82 billion in the same period of 2017, according to the Central Bank Bulletin.
The Central Bank’s balance sheet went up by AED 7 billion in February, from a total of AED391.54 billion in January.
The growth in Central Bank’s assets is attributed to the increase in banks’ deposits, up by AED25.68 billion in annual terms, and by AED11.42 in monthly term, leading the total balance to jump to AED102.64 billion by the end of February. Loans and advances dropped from AED3.2 billion at the end of February 2017, to AED3.13 billion during the same period in this year.
Meanwhile, the Central Bank Governor, Mubarak Rashed Al Mansoori, led a delegation of top UAE financial institutions to Tokyo, Japan for the ‘2nd UAE-Japan Financial Cooperation Seminar’ on Monday
The seminar covered topics including economic developments in the UAE and Japan, promotion of infrastructure investments, measures to encourage financing for SMEs, among others.