Abu Dhabi – Mubasher: The value of assets held by banks operating in the UAE grew 7% year-on-year, or by AED 184.2 billion ($50.14 billion) in December to AED 2.878 trillion ($783.44 billion) from AED 2.694 trillion ($733.35 billion), data released showed.
Meanwhile, banks’ deposits increased 8% to AED 1.755 trillion in December from AED 1.627 trillion in the same month in 2017, the Central Bank of the UAE (CBUAE) said.
Loans and advances also grew by 5% to AED 1.656 trillion last month from AED 1.580 trillion in the year-ago period.
Money supply
The Central Bank of the UAE also noted that the money supply (M1) increased 1.3% to AED 485.6 billion by the end of December 2018 from AED 479.5 billion in November.
The bank attributed the gain in M1 to an AED 6.2 billion increase in cash deposits added to a decline by AED 100 million in tradable cash outside banks.
