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FINANCIAL NEWS
UAE banks’ assets up 7.5%
03 Jan 2011
(MENAFN) The Central Bank of the UAE announced that assets of banks in the country, combined, showed an increase by 7.5 percent to reach Dh325.4 billion at the end of November 2010, reported Khaleej Times.
According to the central bank money supply (M1) was steady from October to November 2010 at $47 billion. However, broad money supply (M2) fell by 1.6 percent from October to November 2010 reaching $159.6 billion.
The bank also said that in the period from January to November 2010 the intermediary aggregate M2 rose by 5.9 percent in consistence with estimates of economic growth and inflation in the UAE.
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