Abu Dhabi – Mubasher: Assets at the UAE's banks saw a 5.5% rise in February compared with the same month a year earlier, showed data released Monday by the central bank.
The bank assets increased to AED 2.462 trillion ($670 billion), up from AED 2.334 trillion ($635 billion) in February, 2015.
Meanwhile, total assets declined by around 0.7% from AED 2.480 trillion recorded in January, 2016.
Data also showed that total bank deposits in the country rose by 2.9% year-on-year to AED 1.47 trillion, from AED 1.430 trillion.
Loans and advances saw 7.9% growth to AED 1.503 trillion, from AED 1.394 trillion in February, 2015.
Bank credit totaled AED 1503.7 billion at the end of February, up from AED 1419.9 billion at the end of January.
