Mubasher TV
Contact Us Advertising   العربية

UAE bank loans up AED 2.2bn in May

UAE bank loans up AED 2.2bn in May
Central Bank of the UAE

UAE – Mubasher: Bank loans in the UAE increased by 0.1% or AED 2.2 billion during May on a monthly basis, according to recent data by the Central Bank of the UAE (CBUAE).

Data showed that loans by the banking sector amounted to AED 1.778 trillion last month, compared to AED 1.776 trillion in in April.

Meanwhile, bank deposits by residents increased by 800 million to AED 1.662 trillion.

The banking sector’s assets increased by 0.3% or AED 10 billion to a total of AED 3.165 billion in May 2020, up from AED 3.155 billion in the previous month.

Money supply M1 recorded an increase of 0.7% to AED 564.3 billion last month, compared with AED 560.3 billion in April.

Bank deposits declined by AED 6.7 billion to AED 1.865 trillion by the end of last month.

Meanwhile, money supply M2 decreased by 0.9% to AED 1.451 trillion, while money supply M3 went down by 0.2% to AED 1.747 trillion.

Money in circulation outside banks amounted to around AED 93.1 billion, increasing by AED 2.2 billion or 2.4% on a monthly basis, according to the data by the central bank.

Money supply aggregate M3 increased by 1.8% to AED 1.748 trillion.