CBUAE's Balance Sheet Hits Record AED 750 Billion, Up 32.5% Yearly

The Central Bank of the UAE (CBUAE) has recently announced a significant achievement in its financial stature, with its balance sheet reaching the AED750 billion mark as of the end of February 2024. This milestone underscores a robust financial growth, as detailed in the balance sheet report for February 2024 released today.

The report reveals a substantial 32.5 percent annual increase in the Central Bank’s general budget, which stood at AED747.62 billion by the end of February 2024. This figure is a considerable rise from the AED564.25 billion recorded in February 2023, indicating an impressive growth of AED183.4 billion over the year.

On a month-to-month basis, the CBUAE's balance sheet saw a growth of 1.8 percent or AED13 billion, moving up from AED734.61 billion in January 2024 to its current figure. This consistent upward trend highlights the Central Bank's solid financial performance and strategic asset management.

Asset Allocation

The detailed breakdown of the Central Bank's balance sheet assets includes AED321.21 billion allocated for cash and bank balances as of February 2024. Investments accounted for approximately AED219.75 billion, while deposits stood at AED174.27 billion. Loans and advances were reported at AED1.83 billion, with other assets making up AED30.56 billion.

Liabilities and Capital

On the flip side, the liabilities and capital aspect of the balance sheet comprised AED318.46 billion for current and deposit accounts. Treasury bills and Islamic certificates of deposit were around AED257 billion, with issued banknotes and coins amounting to AED139.36 billion. Capital and reserves were reported at AED16.98 billion, alongside AED5.82 billion for other liabilities.

This financial update from the Central Bank of the UAE not only showcases its strong fiscal position but also reflects the broader economic stability and growth within the UAE. The detailed asset allocation and liabilities management underscore a well-structured financial strategy aimed at sustaining and enhancing economic resilience.

With inputs from WAM