Media ININ Economy We Trust
Media in\ Abu Dhabi, 31-03-2019,
Total bank assets, including bank acceptances, increased by 1.0% to AED 2.909 trillion by the end of February 2019 compared to 2.913 trillion in January of the same year.
Central bank data showed total bank credit increased 6 percent from 1.662 trillion dirhams at the end of January 2019 to 1.671 trillion dirhams at the end of February.
During February 2019, total bank deposits increased by AED 13.6 billion as a result of an increase of AED 15.2 billion in resident deposits despite a decrease of AED 1.6 billion in non-resident deposits.
On the money supply level, the central bank announced that the “N1” money supply rose by 3.1% from AED 486 billion at the end of January 2019 to AED 501.1 billion at the end of February of the same year.
The “N1” cash offer includes cash in circulation outside banks + cash deposits .. Current accounts and accounts payable with banks in accordance with financial standards.
N2 money supply rose by 1.2% from AED 1,305.5 trillion at the end of January 2019 to AED 1.321.3 trillion at the end of February 2019.
N3 money supply increased by 1% from AED 1.603.1 trillion at the end of January 2019 to AED 1.619.4 trillion at the end of February of the same year 2019.
The increase in N1 money supply was due to an increase of AED 2.2 billion in cash outside banks and AED 12.9 billion in cash deposits. The rise in N2 was the increase in N1 and the increase of AED 700 million in cash deposits. While the rise in N3 was due to an increase in the supply of N1 and N2 and an increase of AED 500 million in government deposits.
