Abu Dhabi – Mubasher: The UAE’s banks assets appreciated by 1.4% to AED 2.648 trillion in the first quarter of 2017, compared to AED 2.610 trillion in the last quarter of 2016, according to a report issued by the Central Bank of the UAE.

Credit operations increased by 1.5% to AED 1.6 trillion in Q1-17 compared to Q4-16, while growing 5.3% on an annual basis.

The central bank’s total foreign currency assets levelled up 4.5% to AED 325 billion by the end of the first quarter of 2017, the report showed.

Total deposits of resident and non-resident customers increased by 2.5% to AED 1.6 trillion in Q1-17, compared to AED 1.5 trillion at the end of the first quarter of 2016, according to the statement of the Central Bank of the UAE.

Residents’ deposits in banks operating in the UAE jumped 3.6% to reach AED 1.41 trillion in Q1-17, compared to AED 1.33 trillion in Q1-16.

Meanwhile, non-resident deposits decreased by 5% to AED 189 billion in the quarter ended 31 March 2017