UAE banks’ assets up Dh700m

The Central Bank announced that total bank assets increased Dh700 million to reach Dh1, 742.1 billion at the end of April.

It also added that money supply M0 (currency in circulation + currency at banks) remained at Dh53.6 billion.

Money supply aggregate M1 (currency in circulation plus monetary deposits, i.e., current accounts and call accounts at banks) increased by 2.1 per cent, from Dh280.2 billion at the end of March 2012 to Dh286.1 billion at the end of April of the same year.

Money supply aggregate M2 which comprises of M1 and quasi-monetary deposits (resident time and savings deposits in dirhams, commercial prepayments in dirhams and resident deposits in foreign currencies), decreased by 2.4 per cent, from Dh880.4 billion at the end of March 2012 to Dh859.2 billion at the end of April of the same year.

Money supply aggregate, M3 (M2 plus government deposits at bank operating in the UAE as well as at the Central Bank) decreased by 1.1 per cent, from Dh1,078.2 billion at the end of March to Dh1,066.3 billion at the end of April of the same year.

Total bank deposits decreased by 0.6 per cent during the month of April 2012 to close at Dh1,138.9 billion. Meanwhile, total bank loans and advances (net of provisions and interest in suspense) decreased by 0.2 per cent to reach Dh1,072.3 billion.

During the first four months of 2012, intermediary monetary aggregate M2 increased by 4.0 per cent, while bank loans and advances increased by 0.1 per cent and bank deposits by 6.5 per cent.

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