UAE banking sector hits all-time-high of AED502.6 billion in capital, reserves

ABU DHABI, 5th November, 2024 (WAM) -- A significant milestone has been achieved by the UAE banking sector. As of July 2024, the total capital and reserves of banks operating within the UAE exceeded AED500 billion for the first time.

According to the latest data released by the Central Bank of the UAE (CBUAE), the sector's capital and reserves witnessed a substantial year-on-year growth of 10.5%, rising from AED4