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FINANCIAL NEWS
UAE’s total bank deposits up 1.1% in Aug: CB
12 Oct 2012
(MENAFN) The UAE’s Central Bank said that at the end of August, total bank deposits rose by 1.1 percent from a month before, reaching around USD306 billion, reported Emirates 24/7.
The bank said that money supply M0 (currency in circulation + currency at banks) went up by 1.1 percent to USD15.16 billion from USD14.99 billion.
It added that money supply aggregate M1 (currency in circulation plus monetary deposits) dipped by 0.5 percent to USD77.57 billion, compared with USD77.95 billion at the end of July.
Furthermore, money supply aggregate, M3 (M2 plus government deposits at bank operating in the UAE and the Central Bank) edged up by 1.5 percent to USD285 billion at the end of August from USD281 billion at the end of the month before.
It is worth noting that total bank loans and advances (net of provisions and interest in suspense) fell by 0.1 percent to reach USD296 billion, while total bank assets inched up by 0.5 percent to USD471 billion.
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