Abu Dhabi-Mubasher: The UAE banks posted a growth in its assets by 1.1% or AED 27 billion during the second quarter of 2016, according to a statement.
Total assets amounted to AED 2.518 trillion in Q2-16, compared to AED 2.491 trillion in the previous quarter.
The assets increase was mainly driven by a 1.7% rise in credit to AED 1.54 trillion in Q2-16, compared to AED 1.52 trillion in Q1-16, according to a statement.
Total deposits fell 0.6% to reach AED 1.49 trillion in Q2-16, compared to AED 1.50 trillion in Q1-16.
Money supply M1 decreased by 1.9% from AED 0.490 trillion in Q1-16 to reach AED 0.481 trillion in Q2-16.
Money Supply M2 reached AED 1.180 trillion in Q2-16, down 3.1% from AED 1.218 trillion in Q1-16.
Money Supply M3 declined 0.7% from AED 1.373 trillion in Q1-16 to AED 1.364 trillion in Q2-16.
