The total investments of Emirati banks in the Arab Gulf countries increased by 11.3% to reach 141.4 billion dirhams during the last quarter of 2019, compared to 127 billion dirhams in the third quarter From the same year.
According to the Emirates News Agency, the increase recorded in the investments of Emirati banks reflects an indication of its continuing approach to investment expansion in Saudi Arabia, Bahrain, Oman and Kuwait, which expands the customer base and provides in the final outcome its works that recently showed distinguished results according to the financial statements announced.
The Kingdom of Saudi Arabia is the largest investment destination for Emirati banks, as the value of its investments during the last quarter of 2019 amounted to about 76.4 billion dirhams, an increase of 17.5% compared to 65 billion dirhams in the third quarter of the same year.
According to these figures, the Emirati banks ’investments in the Saudi market constitute 54% of their total investments in the four Gulf countries that were included in the monitoring, in a move that is described as keeping pace with the size of the market in the beginning and is a true translation of the strong cooperation relations with which the countries are linked, especially after the formation of the joint committee between them .
On the level of Emirati banks ’investments in the Omani market, they reached 24 billion dirhams during the last quarter of 2019, while the Bahraini market reached 23 billion dirhams and 18 billion dirhams in the Kuwaiti market.
