Total assets of the UAE banking system reached AED 2,895 trillion in March

23-04-2019 Media in\ Abu Dhabi
Total bank assets, including bank receipts, reached AED 2,895 trillion at the end of March 2019 compared to AED 2,909.5 trillion at the end of February, the Central Bank of UAE (CBE) announced today.
Total bank credit increased by 0.2% from AED 1671.9 billion at the end of February 2019 to AED 1,675.1 billion at the end of March of the same year. During March, total bank deposits decreased by AED 20.1 billion, a decrease of AED 17.4 billion in resident deposits and a decrease of 2.7% Billion in non-resident deposits.
The central bank announced that the money supply / M2 rose by 2.2% from 501.1 billion dirhams at the end of February to 512 billion dirhams at the end of March 2019. The money supply / M2 increased 0.6% from AED 1321.3 billion at the end of February 2019 To AED 1328.6 billion at the end of March 2019. The money supply / M2 increased by 0.8% from AED 1619.4 billion at the end of February 2019 to AED 1631.7 billion at the end of March 2019.
The increase in the money supply is attributable to a rise of AED 600 million in cash outside banks and AED 10.3 billion in cash deposits. The rise in N / 2 was due to the rise in N / 1 despite a decrease of AED 3.6 billion in cash deposits. While the rise in N / 3 was due to the increase in the money supply (N / 1 / N / 2) and a rise of AED 5 billion in government deposits.
N / 1 includes cash in circulation outside banks, in addition to cash deposits / current accounts and call accounts with banks, while 2 / N / 1 includes quasi cash deposits / time deposits, savings deposits for residents of dirhams, resident deposits in foreign currencies / .
N3 includes both N2 and government deposits with banks operating in the United Arab Emirates, as well as with the Central Bank.