The assets of the banking sector in the UAE recorded a great leap, last December, as it increased by 108.6 billion dirhams during a month, bringing the total assets owned by banks, including bank admission certificates, to four trillion and 560 billion dirhams, compared to four trillion and 451.4 billion dirhams at the end of November, with a monthly growth of 2.4%, which is the highest rate of growth for banking assets During a month at all.
Data issued by the Central Bank yesterday showed that the total bank deposits rose from one trillion and 804.4 billion dirhams at the end of last November, to trillion and 847 billion dirhams at the end of December 2024, with a monthly increase of 42.6 billion dirhams, equivalent to a growth of 1.5%.
According to the data, the total bank credit recorded 0.8%, up from one trillion and 163.4 billion dirhams at the end of last November, to trillion and 181 billion dirhams at the end of December 2024, a monthly increase of 17.6 billion dirhams.
Banking deposits continued to excel on loans by the end of last December to reach 666 billion dirhams.
The data indicated that the total assets of the foreign central bank increased to the end of last December to 860.5 billion dirhams, compared to 825.8 billion dirhams at the end of November, a monthly increase of 34.7 billion dirhams, equivalent to a growth of 4.2%.
The total monetary offer “N1”, which includes circulating cash (outside the banks, besides cash deposits), ongoing accounts and demand accounts of banks, increased by 2.3%, from 924.8 billion dirhams at the end of last November to 946.4 billion dirhams at the end of December 2024.
This is due to an increase of 1.1 billion dirhams in the value of cash on banks, and an increase of 20.6 billion dirhams in cash deposits.
The total cash offer, “N2”, which includes (N1, beside the semi -monetary deposits), the deposits for the savings deposits for residents of dirhams, and the deposits of residents of foreign currencies, increased by 1.7%, from 2.278.9 billion dirhams at the end of last November to 2.317.5 billion dirhams at the end of December 2024.
The increase in the “N2” monetary width is due to the rise in the “N1” monetary supply, and the increase of 17 billion dirhams in the semi -monetary deposits.
The total monetary latitude «N3», which includes (N2, along with government deposits with banks operating in the UAE, as well as at the Central Bank), increased by 0.4%, from 2.767.4 billion dirhams at the end of last November to 2.778.9 billion dirhams at the end of December 2024. The expansion of the Monitor N3 is attributed to the growth of the money latitude «N2) over the decline by 27.1 billion dirhams in the deposits Government.
The monetary base increased by 4.4% from 748 billion dirhams at the end of last November to 780.6 billion dirhams at the end of December 2024.
. Total deposits rose from 2.804 trillion dirhams in November, to 2.847 trillion dirhams at the end of December, with a monthly growth of 1.5%.
. 2.4% a monthly growth in bank assets during December 2024.
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