UAE gross bank assets up to AED3.095 trillion in February

The UAE gross bank assets, including bankers’ acceptances, rallied 0.5 percent from AED3.080.3 trillion in January 2020 to AED3.095.3 trillion by the end of the following month, figures by the UAE Central Bank have shown.

Gross credit in the banking system likewise grew 0.5 pct from AED1.736.9 trillion by the end of January 2020 to AED1.745.5 trillion in February, with total bank deposits going up by AED1.8 billion driven by a rise in residents’ deposits, by AED3.6 bn.

In the meantime, CBUAE announced that the Money Supply aggregate M3 edged up 0.2 percent from AED1.689.7 trillion at the end of January to AED1.693.7 in February, driven by an increase of AED4.5 bn in government deposit, despite the decrease in the Money Supply aggregate M1 and Money Supply aggregate M2.

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