UAE bank lending, money supply surges

Nearly 280,000 people to benefit from the clean energy projects. (Ashok Verma)

Bank lending growth in the United Arab Emirates rose to 10.2 per cent year-on-year in November, the fastest pace since it became possible to calculate annual rates in March last year, from 9.9 per cent in October, central bank data showed on Wednesday.

Money supply (M3) grew 11.6 per cent in November after increasing 10.2 per cent in October.
 

UAE Money Supply

 

End-Nov 14

End-Oct 14

End-Nov 13

M1 change yr/yr (%)

18.4

20.3

27.1

M2 change yr/yr

10.0

12.2

19.5

M2-M1 % change yr/yr

5.2

7.6

15.6

M3 % change yr/yr

11.6

10.2

10.9

Loans & advances yr/yr*

10.2

9.9

n/a

Note: Data for 2014 are estimates subject to revision, * gross

Percentage changes are Reuters calculations based on official data

 

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