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28 November 2023

UAE banks post Dh24.9bn profit in 10 months


Net profits of banks operating in the UAE grew by 11.3 per cent between January 1, 2011 to October 31, 2011 to reach Dh24.98 billion, according to the governor of the Central Bank of the UAE Sultan Nasser Al-Suwaidi. 

Banks operating in the UAE have enough liquidity to meet the local markets' demands on loans and financing investments and in doing so they rely on their reserves, deposits and capitals, Suwaidi said in statements. 

"Last October, these banks were able to restore balance between loans and deposits and minimise the gap which appeared for the first time last September," Al Suwaidi explained.