Based on data from the Central Bank, national banks increased their equity investments to Dhs16.1 billion by the end of May, which represents a 37.6% YoY increase from Dhs11.7 billion in May 2023.
By the end of May, foreign banks’ stakes in local stock markets had increased to Dhs300 million, up 50% or Dhs100 million from Dhs200 million in May 2023.
By the end of May, banks operating in the United Arab Emirates had invested Dhs16.4 billion in equity, of which 94.9 percent was held by national banks and 5.1 percent by foreign banks.
The figures show that at the end of May, traditional banks’ holdings in regional stock markets totalled Dhs14.2 billion, up 52.7 percent on a year-over-year basis, or Dhs4.9 billion, compared to Dhs9.3 billion in May 2023.
The $400 million listing from ABC on Nasdaq Dubai is welcomed, as stated by Hamed Ali, CEO of DFM and Nasdaq Dubai. The exchange is dedicated to offering a cutting-edge and reliable platform enabling global issuers to connect with domestic and foreign investors, serving as the leading global hub for international bond listings. We are excited to help ABC maintain its success and growth in the global capital markets.
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