The latest figures from the Central Bank of the UAE (CBUAE) show that national banks increased their investments in local stock markets by Dhs4.4 billion over a 12-month period.
In May 2023, national banks invested Dhs11.7 billion in equity; by the end of May, those same banks had increased their holdings to Dhs16.1 billion, a 37.6% YoY increase. (Central Bank statistics).
The amount of money foreign banks were investing in local stock markets at the end of May was Dhs300 million, up 50% or Dhs100 million from Dhs200 million in May 2023.
The figures show that traditional banks had Dhs14.2 billion invested in local stock markets at the end of May, up 52.7 percent YoY, or Dhs4.9 billion, from Dhs9.3 billion in May 2023.
As of the end of May, the Islamic banks’ holdings in local stock markets totalled Dhs2.2 billion, a 15.4% decline from Dhs2.6 billion in May 2023.
Based on data from the CBUAE, as of the end of May 2024, the Abu Dhabi banks had invested approximately Dhs11.4 billion in local stock markets, Dubai banks had invested Dhs2.2 billion, and the share of banks in other emirates was approximately Dhs2.8 billion.
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