The total UAE banking assets increased by 0.9 percent from 3128 billion dirhams at the end of March 2020 to 3155.7 billion dirhams at the end of April 2020.
According to the Emirates Central Bank, total bank credit increased by 0.4 percent from 1768.2 billion dirhams at the end of March 2020 to 1776.1 billion dirhams at the end of April 2020. During April 2020, total bank deposits increased by 20.3 billion dirhams, as a result of an increase of 26.7 billion dirhams in residents’ deposits, despite a decrease of 6.4 billion dirhams in non-residents’ deposits.
The Central Bank announced that the money supply (N1) increased by 3.2% from 542.7 billion dirhams at the end of March 2020 to 560.3 billion dirhams at the end of April 2020. The money supply (N2) rose by 0.7% from 14545.9 billion dirhams at the end of March 2020 to 1464.8 billion dirhams at the end of April 2020. The money supply (N3) increased by 2.2% from 1714.1 billion dirhams at the end of March 2020 to 1751.5 billion dirhams at the end of April 2020.
Source (Al-Khaleej Newspaper-UAE, Gulf, Edited)
