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

Business & Finance Trading

ABU DHABI, The UAE gross bank assets, including bankers’ acceptances, rallied 0.5 percent from AED3.0803 trillion in January 2020 to AED3.0953 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 AED1.7369 trillion by the end of January 2020 to AED1.7455 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 AED1.6897 trillion at the end of January to AED1.6937 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.

Source: Emirates News Agency