The capital and reserves of the bank rise to 330 billion dirhams

The total capital and reserves of banks operating in the country increased to AED 330.2 billion at the end of the second quarter of 2018, an increase of 4.4% over the same period of 2017.
According to figures released by the UAE Central Bank, capital rose 3.4 percent in the second quarter of this year, compared with a 0.5 percent decline in the corresponding quarter of 2017, but is still significantly higher than 12.37% compared to the minimum Tier I capital ratio of 8.5% as stipulated in the Central Bank regulations and the Basel III principles.
The state-owned banks were In the country, Basel III principles were applied in December 2017 to calculate the capital adequacy ratio according to the Central Bank's guidelines.
Solvency calculates the Bank's capital as a percentage of the weighted risk for all assets. The high solvency ratio of banks ensures the protection of depositors and solidifies the financial stability and efficiency of the financial system in the economy, the same objective as the Basel III principles
Total assets banks operating in the country amounted to AED 2.749 billion at the end of the second quarter of 1.1% compared to the same period last year in 2017.
Bank credit increased to AED 1.622 billion at the end of the second quarter of 2018 with growth of 3.4% over the same quarter of 2017. Deposits also rose to AED 1.684 billion.
WAM