UAE’s gross banking assets stand at Dhs3.172tr by end of January
16 Mar 2021
A view of the headquarters of the UAE Central Bank in Abu Dhabi.
The UAE gross bank assets, including bankers’ acceptances, rallied to Dhs3.172 trillion by the end of January 2021, figures by the Central Bank of the UAE have shown.
Gross credit in the banking system likewise grew from Dhs1.779 trillion by the end of December 2020 to Dhs1.779.2 trillion in January 2021, with total bank deposits going up to Dhs1.876.3 trillion driven by a rise in residents’ savings, from Dhs1.884.5 trillion in December.
In the meantime, the apex bank announced that the Money Supply aggregate M3 edged down to Dhs1.768.7 trillion at the end of January from Dhs1.769.3 in December 2020. In the meantime, Money Supply aggregate M1 increased 2.3 pct to Dhs613.6 billion as compared to December 2020 due to an Dhs1 billion increase in monetary deposits and cash in circulation outside banks. Money Supply aggregate M2 rose as well to Dhs1.489 trillion as compared to Dhs1.478.5 trillion during the reference period due to the increase in M1 and despite the drop in quasi-monetary deposits.