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Khaleej Times
20-05-2025
- Business
- Khaleej Times
UAE banks' gross assets up by 1.6% to Dh4,636.8 billion at end of February 2025: Central Bank
The Central Bank of the UAE (CBUAE) announced the increase in money supply aggregate M1 by 1.8%, from Dh965.3 billion at the end of January 2025 to AED982.9 billion at the end of February 2025. The increase was due to Dh4.1 billion growth in currency in circulation outside banks and Dh13.5 billion rise in monetary deposits. 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.
Hi Dubai
08-05-2025
- Business
- Hi Dubai
UAE Central Bank Reports 1.8% Rise in M1 and M2, 0.9% Growth in Credit for February
The Central Bank of the UAE reported broad growth across key monetary indicators in February 2025, highlighting continued strength in liquidity, deposits, and credit activity within the banking sector. In its latest Monetary and Banking Developments report, the bank said M1 money supply rose by 1.8% to AED982.9 billion, driven by an increase of AED4.1 billion in currency in circulation and AED13.5 billion in monetary deposits. M2, which includes M1 and quasi-monetary deposits, also rose by 1.8%, reaching AED2,361.9 billion. The growth was supported by a AED25 billion surge in quasi-monetary deposits. Meanwhile, M3 increased by 0.8% to AED2,813.4 billion, despite a AED19 billion decline in government deposits. The monetary base expanded by 3.1% to AED816.6 billion. Key contributors included a 3.4% rise in currency issued, an 11.4% jump in current and overnight bank deposits at the Central Bank, and a 6.2% increase in monetary bills and Islamic certificates of deposit. These gains offset a 6.1% drop in reserve account balances. Gross bank assets, including bankers' acceptances, rose by 1.6% to AED4,636.8 billion. Gross credit increased by 0.9%, reaching AED2,205.1 billion. This was driven by AED1.7 billion growth in domestic credit and AED17.1 billion in foreign credit. Credit to the private sector rose by 0.7%, while lending to non-banking financial institutions jumped 5.2%. Credit to the government and related entities declined by 1.4% and 2.0%, respectively. Total bank deposits rose 1.2% to AED2,874.6 billion. Resident deposits grew by 0.8%, while non-resident deposits surged 5.1%. Within resident deposits, the private sector, non-banking institutions, and government-related entities all recorded increases. Government sector deposits fell by 4.0%. News Source: Emirates News Agency
