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FINANCIAL NEWS
UAE posts 1.3% fall in total bank deposits at end of 2012: CB
18 Mar 2013
(MENAFN) The UAE Central Bank stated that at the end of December 2012, total bank deposits went down by 1.3 percent from a month before to nearly USD317.6 billion, reported Emirates 24/7.
The bank attributed the decline to a 1.3-percent drop in resident deposits and a 0.8-percent fall in non-resident deposits.
In the period, total bank loans and advances dipped by 0.7 percent, reaching USD299 billion.
Furthermore, total bank assets reached USD487.4 billion at the end of the month, representing a fall of 0.2 percent compared with the end of November.
Meanwhile, in the period, money supply M0 rose by 1.9 percent to USD15.73 billion, from USD15.43 billion at the end of November, whereas Money supply aggregate M1 went up by 1.9 percent to USD81.43 billion.
It is worth noting that Money supply aggregate M2 (M1 and quasi-monetary deposits) dropped by 0.6 percent to USD234.73 billion, while Money supply aggregate M3 went down by 1.3 percent to USD294.77 billion.
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