UAE central bank annual report shows sharp balance sheet expansion

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The Central Bank of the United Arab Emirates (UAE) has published its annual report for 2012, revealing details of increases in its balance sheet and a number of prudential measures.

The report said the balance sheet grew 12% over the year, with total assets increasing from 234.3 billion Emirati dirhams ($64 billion) to 262.3 billion dirhams ($71 billion). The largest part of the increase – 22.7 billion dirhams – came from increased purchases of ‘held-to-maturity' foreign bonds.

The central bank

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