Special Features
AED 1,742.1 Billion Total Bank Assets At End Of April, Says Central Bank
The Central Bank announced that total bank assets increased by AED 0.7 billion to reach AED 1,742.1 billion, at the end of April. It also added that money supply M0 (currency in circulation + currency at banks) remained at AED 53.6 billion at the end of April.Money supply aggregate M1 (currency in circulation plus monetary deposits, i.e., current accounts and call accounts at banks) increased by 2.1%, from AED 280.2 billion at the end of March 2012 to AED 286.1 billion at the end of April of the same year.
Money supply aggregate M2 which comprises of M1 and quasi-monetary deposits (resident time and savings deposits in Dirhams, commercial prepayments in Dirhams and resident deposits in foreign currencies), decreased by 2.4%, from AED 880.4 billion at the end of March 2012 to AED 859.2 billion at the end of April of the same year.
Money supply aggregate, M3 (M2 plus government deposits at bank operating in the UAE as well as at the Central Bank) decreased by 1.1%, from AED 1,078.2 billion at the end of March to AED 1,066.3 billion at the end of April of the same year.
Total bank deposits decreased by 0.6% during the month of April 2012 to close at AED 1,138.9 billion. Meanwhile, total bank loans and advances (net of provisions and interest in suspense) decreased by 0.2% to reach AED 1,072.3 billion.
During the first 4 months of 2012, intermediary monetary aggregate M2 increased by 4.0%, while bank loans and advances increased by 0.1% and bank deposits by 6.5%.
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