Latest news with #Monetary&BankingDevelopments
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.
Al Etihad
07-05-2025
- Business
- Al Etihad
Gross banks' assets up by 1.6% to Dh4,636.8 billion at end of February 2025: CBUAE
7 May 2025 19:23 ABU DHABI (WAM)The Central Bank of the UAE (CBUAE) announced the increase in money supply aggregate M1 by 1.8%, from Dh 965.3 billion at the end of January 2025 to Dh982.9 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 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 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 Dh 19.0 billion decrease in government 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 banks' assets, including bankers' acceptances, increased by 1.6% from Dh4,562.3 billion at the end of January 2025 to Dh4,636.8 billion at the end of February 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 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
13-03-2025
- Business
- Hi Dubai
UAE's Money Supply Rises to AED 946.4 Billion in December 2024
The Central Bank of the UAE (CBUAE) has reported a significant rise in the country's money supply and banking sector indicators for December 2024. According to the latest Monetary & Banking Developments report, key financial aggregates, including M1, M2, and M3, registered an increase, reflecting robust liquidity and economic activity. Money supply aggregate M1 rose by 2.3%, reaching AED 946.4 billion, driven by an AED 1.1 billion increase in currency circulation and a AED 20.6 billion surge in monetary deposits. Meanwhile, M2 expanded by 1.7% to AED 2,317.5 billion, supported by higher M1 and a AED 17.0 billion increase in quasi-monetary deposits. The broader M3 aggregate edged up 0.4% to AED 2,778.9 billion, despite a AED 27.1 billion decline in government deposits. The UAE's monetary base grew by 4.4%, reaching AED 780.6 billion, primarily due to a 23.7% rise in banks and other financial corporations' (OFCs) current accounts and overnight deposits with CBUAE. The banking sector showed continued expansion, with gross banks' assets climbing 2.4% to AED 4,560.0 billion, while gross credit increased 0.8% to AED 2,181.1 billion. The rise in credit was fueled by an 8.3% jump in foreign credit, counterbalancing a 0.4% decline in domestic credit. Banks' deposits witnessed 1.5% growth, reaching AED 2,847.0 billion, spurred by a 13.9% increase in non-resident deposits and a 0.5% rise in resident deposits. While private sector and non-banking financial institution deposits grew, government sector deposits saw a 5.2% decline. The latest data underscores the UAE's resilient financial sector, with stable liquidity levels and growing foreign investment, setting a positive trajectory for 2025. News Source: Emirates News Agency
