Abu Dhabi – Mubasher: Total bank deposits in the UAE rose by AED 47 billion to AED 1.627 trillion by the end of 2017, against AED 1.580 trillion loans at the same period a year earlier, the Central Bank of the UAE (CBUAE) said in a statement on Wednesday.
Total deposits amounted to AED 1.627 trillion in December 2017, compared to AED 1.529 trillion the previous year, the statement added.
On a monthly basis, deposits decreased 0.3% or AED 5.1 billion to AED 1.627 trillion, compared to AED 1.632 trillion.
The CBUAE attributed the drop in December deposits to AED 6.6 billion to a decline in residents’ deposits, against an increase in non-residents deposits.
Total assets of operating banks in the UAE, including bankers' acceptances, fell 0.3% or AED 7.9 billion to AED 2.695 trillion by the end of December 2017, against AED 2.687 trillion a month earlier.
Banking credit tumbled 0.9% to AED 1.580 trillion by December 2017, down from AED 1.594 trillion by the end of November 2017.
Year-on-year, banking credit inched up 0.4% or AED 6.7 during 2017, compared to AED 574 trillion the year before.
Money supply (M1) grew by 0.4% to AED 492.4 billion by the end of December 2017, versus AED 490.3 billion at the end of November 2017, while the M2 rose 2.2% to AED1276.2 billion up from AED 1248.8 billion.
Meanwhile, the M3 shed 0.5%, to AED 1487.1 billion by the end of December 2017, from AED 1494.3 billion in the prior-year period.
