Abu Dhabi – Mubasher: Data released by the Central Bank of the UAE revealed that individuals and companies held financial surpluses in the form of savings deposits at banks worth AED 38.4 billion during the first 11 months of 2024.

The total cumulative balance of this item reached AED 311.2 billion by the end of November 2024, compared to AED 272.8 billion by the end of 2023, a growth of 14 percent.

Savings deposits represent 13.5 percent of total bank deposits, which amounted to AED 2.308 trillion, as of the end of last November .

The Central Bank of the UAE's balance sheet reached approximately AED 861.5 billion at the end of last November, according to the latest statistics issued by the UAE Central Bank .

The UAE Central Bank explained that the budget increased by 19.52% during the 11 months of 2024, an increase of AED 140.7 billion, compared to AED 720.8 billion in December 2023.

On an annual basis, the Central Bank's balance sheet increased by 28.64%, equivalent to AED 191.78 billion, compared to AED 669.72 billion in November 2023.

While it increased on a monthly basis by 1.21%, equivalent to 10.29 billion dirhams, compared to approximately 851.21 billion dirhams at the end of October 2024.

Regarding assets, the Central Bank's budget was distributed as follows: AED 512.19 billion for cash and bank balances, AED 207.86 billion for investments held to maturity, AED 103.53 billion for deposits, AED 1.30 billion for loans and advances, and AED 36.62 billion for other assets.

As for liabilities and capital, the budget was distributed as follows: AED 413.43 billion for current accounts and deposits, AED 241.55 billion for cash bills and Islamic certificates of deposit, AED 152.59 billion for issued banknotes and coins, AED 33.46 billion for capital and reserves, in addition to AED 15.57 billion for other liabilities.

Regarding foreign assets, the Central Bank of the UAE's total foreign assets reached AED 825.79 billion by the end of November 2024, a monthly increase of 1.29% or AED 10.51 billion compared to October 2024, when they were AED 815.29 billion.

Foreign assets also increased by 21.23% over the 11 months of 2024, reaching AED 144.64 billion compared to AED 681.15 billion at the end of 2023, and an annual increase of 33.22%, equivalent to AED 205.94 billion, compared to November 2023.

As for bank balances and deposits at banks abroad, they rose to AED 587.41 billion by the end of November 2024, a monthly increase of 3.45% compared to approximately AED 567.82 billion in October 2024, and an annual increase of 49.59% compared to approximately AED 392.68 billion in November 2023.

On the other hand, other foreign assets reached AED 57.23 billion by the end of November 2024, a monthly decrease of 13.06% compared to AED 66.24 billion in October 2024, while they declined by 3.94% compared to approximately AED 59.58 billion in November 2023.