Abu Dhabi – Mubasher: The UAE banks’ assets rose 1.6% year-on-year by the end of December 2016, according to a statement by the Central Bank of UAE.
Assets amounted to AED 2610.8 billion by the end of December 2016, compared to AED 2474.4 billion during the prior-year period.
Gross credit fell by 0.1% from AED 1576.2 billion at the end of November 2016 to AED 1574.0 billion at the end of December 2016.
Total bank deposits increased by AED 41.7 billion during December 2016 due to an increase by AED 25.9 billion in resident and non-resident deposits respectively.
The 0.3% month-on-month increase in money supply aggregate M1 in December 2016 is mainly attributed to a rise in M1 and M2 by 1% and 1.8% respectively in the same month.
