FINANCIAL NEWS

UAE banks post assets of USD474b in April: CB

22 Jun 2012

(MENAFN) The UAE’s central bank stated that assets of the country’s banks at the end of April grew to USD474 billion, reported Emirates 24/7.

The bank added that in April, total bank deposits fell by 0.6 percent to reach around USD309.7 billion, whereas total bank loans and advances went down by 0.2 percent to USD291.78 billion.

The CB said that money supply M0 was unchanged at USD14.58 billion, while money supply aggregate M1 rose by 2.1 percent to USD77.87 billion.

Furthermore, money supply aggregate M2 fell by 2.4 percent from a month earlier to USD233.86 billion.

It is worth noting that money supply aggregate M3 dropped by 1.1 percent to USD290.15 billion.

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