posted on 18/10/2012: 640 views
The UAE Central Bank's assets grew by nearly Dh17 billion in the first eight months of 2012 and the bulk of the increase was in deposits with other banks and held-to-maturity securities, according to its latest monthly bulletin.
The increase in those two assets more than offset a 60 per cent decline in the Bank's cash and bank balances, which dived to Dh11.8 billion at the end of August from nearly Dh30.2 billion at the end of 2011, the report showed.
Total assets swelled to one of their highest levels of about Dh250 billion at the end of August from around Dh234.2 billion at the end of 2011.
The increase was mostly in held-to-maturity investments, which are defined as a form of debt security with a specific maturity date. From around Dh171 billion at the end of 2011, they surged by nearly Dh30 billion to a record high of Dh201.7 billion.
The Central Bank's deposits with other banks also rose by 15 per cent to around Dh34.6 billion from Dh30.1 billion in the same period.
Loans and advances tumbled by 68 per cent to around Dh510 million from
Dh1.62 billion while other assets edged up by 2.3 per cent to Dh1.35 billion from Dh1.33 billion.
On the liabilities side, the report showed the Central Bank's capital and reserves was down from around Dh20.5 billion at the end of 2011 to Dh18.08 billion at the end of August. On a monthly basis, the capital remained unchanged compared with July.
The report showed certificates of deposits issued by the Central Bank to local banks grew by around 5.7 per cent to Dh85.02 billion from Dh80.41 billion after climbing to their highest level of Dh173 billion at the end of 2007. – Emirates 24|7
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