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FINANCIAL NEWS
UAE bank deposits up 2% in March: CB
09 May 2013
(MENAFN) The UAE central bank announced that in March, total bank deposits edged up by 2 percent, reaching around USD336.9 billion, reported Emirates 24/7.
The bank attributed the growth to a gain of 1.9 percent in resident deposits, and a rise of 2.2 percent in non-resident deposits.
In the month, money supply M0 edged up by 1 percent to USD16.16 billion, compared with USD16 billion a month before.
Meanwhile, money supply aggregate M1 grew by 3.2 percent, reaching USD89.11 billion, from February’s USD86.39 billion.
Furthermore, money supply aggregate M2, which consists of M1 and quasi-monetary deposits, gained 1 percent to USD249.14 billion from USD246.58 billion.
In the mean time, money supply aggregate M3, which comprises M2 plus government deposits at bank operating in the UAE and at the central bank, went up by 2 percent, reaching USD314.12 billion.
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