Media ININ Economy We Trust
Media In – Abu Dhabi 1 March 2018 WAM
Total banking assets, including bank receipts, stood at AED2.688 trillion during the month of January compared to AED 2.695 trillion in December 2017, according to data released by the UAE Central Bank today.
Banks’ total bank credit rose to about AED 1.588 trillion in January, a growth of 0.5% compared with 1.581 trillion in December.
On the deposits side, total bank deposits decreased by 5.2 billion dirhams.
The Central Bank announced that the money supply rose by 1.1% from AED 492.4 billion at the end of December 2017 to AED 498 billion at the end of January 2018.
Money supply rose 0.1% from 1.276 trillion dirhams at the end of December 2017 to 1.277.2 trillion dirhams at the end of January 2018.
The money supply declined 0.4% from AED 1.487.1 trillion at the end of December 2017 to AED 1.481 trillion at the end of January 2018.
The increase in money supply is attributable to a rise of AED 5 billion in cash deposits, due to a 2% increase to 1% despite a decrease of AED 6.4 billion in cash deposits. While the decrease in N3 was due to a decrease of AED 2.7 billion in government deposits.
