3.172 trillion dirhams total bank assets in the UAE

The latest statistics issued by the UAE Central Bank showed that total banking assets, including bank acceptances, reached approximately 3.172 trillion dirhams at the end of January 2021

According to the Emirates News Agency, statistics showed that bank credit rose during January 2021 to a level of 1.779.2 trillion dirhams, compared to 1.779 trillion dirhams in December 2020. p>

The recorded increase was supported by a 0.2% increase in domestic credit in January despite a 14% decrease in foreign credit.

The UAE Central Bank attributed the increase in domestic credit to the increase in credit granted to the government and private sectors, by 2.0% and 0.2%, respectively.

As for deposits, their total value in January reached 1.876.3 trillion dirhams, compared to 1.884.5 trillion dirhams last December.

The Central Bank announced that the money supply / N1 / rose by 2.3%, reaching the level of 613.6 billion dirhams in January 2021, an increase of 2.3% compared to 600 billion dirhams in December 2020 .. And the money supply / n2 / rose to 1.489 trillion dirhams compared to 1.478.5 trillion dirhams during the two comparison periods.

The money supply / m3 / reached 1.768.7 trillion dirhams at the end of January 2021, compared to 1.769.3 trillion dirhams in December 2020.

The Central Bank made it clear that the increase in the money supply / N1 / came as a result of an increase of 12.6 billion dirhams in cash deposits and cash circulated outside banks by one billion dirhams ... while the increase in money supply / n2 / was the result of an increase in the money supply / n1 / despite the fact that Decline in quasi-cash deposits.

It is noteworthy that the cash supply / N1 / includes cash in circulation outside banks + cash deposits / current accounts and demand accounts with banks / while it includes cash supply / n2 / n1 + quasi-cash deposits / time and savings deposits for residents in dirhams, and deposits of residents in foreign currencies and guarantees Cash supply / n3 / n2 + government deposits with banks operating in the United Arab Emirates as well as the Central Bank.