UAE banks' gross assets up by 1.6% to Dh4,636.8 billion at end of February 2025: Central Bank
According to the apex bank's Monetary & Banking Developments – February 2025, the money supply aggregate M2 increased by 1.8%, increasing from Dh2,319.3 billion at the end of January 2025 to Dh2,361.9 billion at the end of February 2025. M2 increased because of an elevated M1, and Dh25.0 billion rise in Quasi-Monetary Deposits.
The money supply aggregate M3 also increased by 0.8%, from Dh2,789.8 billion at the end of January 2025 to Dh2,813.4 billion at the end of February 2025. M3 increased mainly due to the growth in M2, overriding the Dh19.0 billion decrease in government deposits.
The monetary base increased by 3.1%, from Dh791.9 billion at the end of January 2025 to Dh816.6 billion at the end of February 2025. The growth in the monetary base was driven by increases of; 3.4% in currency issued, 11.4% in banks & OFCs' current accounts & overnight deposits of banks at CBUAE and 6.2% in monetary bills & Islamic certificates of deposit, overshadowing the 6.1% decrease in reserve account.
Gross banks' assets, including bankers' acceptances, increased by 1.6% from Dh4,562.3 billion at the end of January 2025 to Dh,636.8 billion at the end of February 2025.
Gross credit increased by 0.9% from Dh2,186.3 billion at the end of January 2025 to Dh2,205.1 billion at the end of February 2025. Gross credit increased due the combined increases in domestic credit by Dh1.7 billion and foreign credit by Dh17.1 billion. The growth in domestic credit was due to increases in credit to the; private sector by 0.7% and non-banking financial institutions by 5.2%. Credit to the public sector (government-related entities) decreased by 2.0%, and credit to the government
sector decreased by 1.4%.
Banks' deposits increased by 1.2%, from Dh2,840.7 billion at the end of January 2025 to Dh2,874.6 billion at the end of February 2025. The increase in bank deposits was due to the growth in resident deposits by 0.8%, settling at Dh2,625.5 billion and in non-resident deposits by 5.1%, reaching Dh249.1 billion.
Within the resident deposits; government-related entities deposits increased by 3.8%, private sector deposits increased by 1.4% and non-banking financial institutions deposits increased by 5.6%, while deposits to the government sector decreased by 4.0% by the end of February 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
3 days ago
- The National
S&P raises India's credit rating to BBB in first upgrade for 18 years
S&P Global Ratings upgraded India 's long-term sovereign crediting rating to "BBB" from "BBB-" on Thursday, owing to the country's fiscal consolidation, credible monetary policy and strong economic growth. It was India's first upgrade in 18 years. 'The upgrade of India reflects its buoyant economic growth, against the backdrop of an enhanced monetary policy environment that anchors inflationary expectations,' S&P Global analysts wrote. "Together with the government's commitment to fiscal consolidation and efforts to improve spending quality, we believe these factors have coalesced to benefit credit metrics." S&P also raised India's short-term ratings to "A-2" from "A-3", adding that the outlook on the long-term rating is stable. It also revised its transfer and convertibility assessment to "A-" from "BBB+". India's Ministry of Finance said it welcomed S&P's decision to upgrade the country's credit rating. The ratings agency said India's economy had a 'remarkable comeback' from the Covid-19 pandemic, with real GDP growth averaging 8.8 per cent over the 2022 fiscal year to the 2024 fiscal year, the highest in the Asia-Pacific. Analysts said they expect GDP to increase 6.8 per cent annually over the next three years. 'India remains among the best performing economies in the world,' S&P Global said. S&P Global also expects the effects of the US tariffs on India's economy 'will be manageable', noting that about 60 per cent of its growth comes from domestic consumption. US President Donald Trump last week doubled India's tariff rate to 50 per cent because of its continued imports of Russian energy. 'We expect that in the event India has to switch from importing Russian crude oil, the fiscal cost, if fully borne by the government, will be modest given the narrow price differential between Russian crude and current international benchmarks,' analysts wrote. Analysts also anticipated that, factoring in sectoral exemptions on pharmaceuticals and consumer electronics, the exposure of Indian exports that would be subjected to tariffs at 1.2 per cent of GDP. While this could lead to a one-off hit to growth, S&P does not anticipate it will hurt India's long-term growth prospects. S&P also projected a general government deficit of 7.3 per cent of GDP in the 2026 fiscal year to fall to 6.6 per cent by to the 2029 fiscal year. It also anticipates the country's debt-to-GDP ratio to fall to 78 per cent by the 2029 fiscal year. S&P said it may lower the ratings if it finds weak political commitment to consolidated public finances. It may raise the ratings if fiscal deficits narrow in a way that would lower the general government debt below 6 per cent of GDP on a structural basis.
Al Etihad
5 days ago
- Al Etihad
Central Bank of UAE, Bank of South Sudan sign MoU to enhance cooperation in fields of payment, security printing
13 Aug 2025 20:47 ABU DHABI (WAM)The Central Bank of the UAE and Bank of South Sudan signed a memorandum of understanding (MoU) aimed at establishing a comprehensive cooperation framework in the fields of security printing, developing innovative solutions for switching, and processing payment card transactions in South Sudan, and exchanging knowledge, experiences, and technical signing of the agreement was witnessed by Sheikh Shakhbout bin Nahyan Al Nahyan, Minister of State in the Ministry of Foreign Affairs, and Benjamin Bol Mel, Vice President of South MoU was signed on behalf of the Governor of the Central Bank of the UAE by Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the Central Bank of the UAE, and Dr. Addis Ababa Otto, Governor of the Bank of South this MoU, the Central Bank will provide innovative solutions for the security printing of banknotes in South Sudan through "Omlat," a subsidiary of the Central Bank of the UAE. Al Etihad Payments, a subsidiary of the Central Bank of the UAE, will also support the Bank of South Sudan in developing a payment card system in South Sudan in two first phase will provide comprehensive and advanced solutions for switching and processing payment card transactions performed in South Sudan, in compliance with the best international standards in terms of efficiency, security, and data the second phase, Al Etihad Payments will assist Bank of South Sudan in developing the infrastructure and advanced solutions for processing payment card transactions MoU also includes the exchange of information and expertise, and the provision of technical support and training for Bank of South Sudan's employees in the field of banking supervision and monetary operations, through programmes provided by the Emirates Institute of Finance, a subsidiary of the Central Bank of the this occasion, Khalid Mohammed Balama, Governor of the Central Bank of the UAE, stated, "The signing of this Memorandum of Understanding comes within the framework of the Central Bank's efforts to embody the vision of the wise leadership in developing strategic partnerships with the Republic of South Sudan and elevating them to new levels in the financial sector by sharing expertise with our counterparts, thus enhancing the interests of both added, 'The Memorandum reflects our shared aspirations to meet the needs of the financial and banking sector in the Republic of South Sudan. We at the Central Bank are also committed to providing support and technical assistance to friendly countries, which will enhance efforts to protect the regional and global financial system.' Addis Ababa Otto, Governor of Bank of South Sudan, said, "We are pleased to sign the Memorandum of Understanding with the Central Bank of the UAE, which sets a framework for joint cooperation, supporting efforts to deepen the economic partnership between our two countries and enhance prospects for bilateral cooperation in the fields of finance, innovation, and financial technology. We value benefiting from the UAE's world-leading expertise in the fields of security printing and developing innovative solutions for local payment services in South Sudan. We will continue to work with the Central Bank of the UAE to achieve our shared goals, and we look forward to continuing the exchange of knowledge and expertise to advance the financial services sector in South Sudan in accordance with the highest international standards, which will contribute to expanding and deepening economic and trade cooperation between the two friendly countries."
Fintech News ME
6 days ago
- Fintech News ME
Ant International Advances UAE Expansion with ADIO Agreement and Central Bank Approval
Ant International, a global provider of digital payment, digitisation, and financial technology services, has announced two developments that mark a step forward in its expansion in the UAE. The company has signed a MoU with the Abu Dhabi Investment Office (ADIO) and received In-Principle Approval (IPA) for the Stored Value Facilities (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses from the Central Bank of the UAE (CBUAE). The MoU with ADIO is aimed at supporting the growth of Abu Dhabi's financial technology sector by using Ant International's technological expertise to assist local businesses and promote financial inclusion, as well as connectivity between the UAE and other markets. Badr Al-Olama, Director General of ADIO, said: 'This agreement with Ant International reflects a broader inflection point in digital finance, where scale is no longer just about reach, but about resilience, trust and regulatory clarity. More than just welcoming global fintech players to join our thriving financial ecosystem, Abu Dhabi is actively shaping digital innovation for the future.' Peng Yang, Chief Executive Officer of Ant International, said: 'The support from ADIO has been instrumental in helping us to establish our presence in Abu Dhabi. This strategic collaborative relationship is foundational to our mission to empower local businesses, especially SMEs, and connect them to new global growth opportunities. We are excited to contribute to the UAE's growing digital economy and look forward to a future of shared success.' The IPA from the CBUAE is a prerequisite for obtaining full licenses to operate in the country. Once granted, Ant International intends to offer payment and related services in the UAE, including merchant acquiring, payment aggregation, e-wallet issuance, and domestic and cross-border fund transfers. These services are intended to support the UAE's digital ecosystem in line with the nation's 'We the UAE 2031' digitisation and fintech strategy. Yang added: 'Receiving this In-Principle Approval from the Central Bank of the UAE is a testament to our productive collaboration and shared vision for a digitally driven, inclusive economy. We are grateful for the guidance and support of CBUAE's Fintech Office as we work to bring our AI-powered fintech solutions spanning merchant services, wallet technology, and digitisation tools to help scale the UAE's growth.'
