Abu Dhabi – Mubasher: Assets of banks operating in the UAE increased by 6% year-on-year at the end of May to AED 2.912 trillion from AED 2.735 trillion, data by the Central Bank of the UAE (CBUAE) showed.

Banks’ deposits rose by 5% to AED 1.758 trillion last May, compared to AED 1.671 trillion in the same month of 2018, according to the CBUAE.

Loans stood at AED 1.681 trillion last May, up 4% year-on-year from AED 1.617 trillion.

The central bank also posted that the money supply (M1) slightly fell in May to AED 507.2 billion from AED 507.3 billion in April.

Meanwhile, M2 declined to AED 1.321 trillion in May, down 1% from AED 1.335 trillion in April, while M3 fell by 1% to AED 1.619 trillion from AED 1.635 trillion in the month before.