According to the most recent data from the Emirates Central Bank, the total bank assets, including the banking acceptance, exceeded 3. 5 trillion dirhams at the end of last August. According to statistics released by the central bank today, total bank assets increased monthly by 0. 9% to 3. 523 trillion dirhams at the end of last August, up from around 3. 49 trillion dirhams in the preceding July.
The Central Bank explained that the total bank deposits increased by 1. 6% from 2.
132 trillion dirhams at the end of 2016 July to 2. 166 trillion dirhams in August 2021 as a result of a 2. 8% increase in resident deposits due to increases in institutional deposits, government sector deposits, public sector deposits, and private sector deposits. By 7.1%, 3.3%, 1.5%, and 0.8%, respectively, in non-banking financing
According to the Central, the overall bank credit fell from 1. 857 trillion dirhams in July to 1.
851 trillion dirhams at the end of August of last year as a result of a 0. 4% decline in domestic credit and a 0. 3% growth in foreign credit.
The monetary base expanded by 1. 2% from 469. 9 billion dirhams at the end of July to 475. 4 billion dirhams at the end of last August, as a result of the rise in the reserve account, deposit certificates and cash permissions by 41. 2% and 0. 6%, respectively.
According to the Central Bank report, the N1 cash supply, which comprises bank current accounts and demand accounts as well as cash circulating outside of banks, declined by 0.2% from the end of July to the end of August, falling to 719.4 billion dirhams.
The report noted an increase in “N2” monetary supply of 1.4% from 1.1% (N1 “+ semi-monetary deposits” deposits for the sacred deposits for residents of dirhams and deposits of foreign currencies).
At the end of July, there were 606 trillion dirhams, and as of today, there are 1. 627 trillion, with 22. 9 billion in semi-cash deposits. The N3 Monetary Bids comprise “N2” + government deposits with banks doing business in the nation as well as the Central Bank. These deposits increased by 26. 1 billion dirhams, or 2.4%, from 1. 968 trillion dirhams at the end of July to 2. 016 trillion dirhams at the end of last August.
The Emirates. The assets of the banking sector exceeding 3.5 trillion dirhams at the end of August
About Author
