UAE - Mubasher: The UAE banks' gross assets increased by 3.4% year-on-year (YoY) to AED 3.188 trillion in December 2020, according to the latest statistics by the Central Bank of the UAE (CBUAE).

On a monthly basis, the UAE banks registered a 0.4% decline in their gross assets in December 2020 from AED 3.202 trillion in November.

At the same time, the UAE banks' gross credit rose by 1.2% in December 2020, when compared to the same months of 2019.

The UAE banks recorded a 2.6% increase in money supply M1 to AED 600 billion in December 2020, compared to AED 584.5 billion in November.

Meanwhile, the UAE banks' money supply M2 reached AED 1.478 trillion in December 2020, up around 2% from AED 1.45 trillion in November.