UAE – The gross assets value of the UAE-based lenders inched up by 0.20% month-on-month (MoM) to AED 3.449 trillion in June 2022 from AED 3.442 trillion, including bankers’ acceptances.

Total bank deposits rose by 2.50% to AED 2.09 trillion last June, versus AED 2.04 trillion in May 2022, WAM news agency cited the Central Bank of the UAE (CBUAE).

The CBUAE attributed the increase in bank deposits to a 2.60% growth in resident deposits and a 2% rise in non-resident deposits.

Meanwhile, government and public sectors’ deposits declined by 1.40% and 2.30%, respectively.

Furthermore, the gross credit amounted to AED 1.866 trillion in June 2022, higher by 0.03% than AED 1.865 trillion a month earlier. The surge was due to a 5.60% increase in foreign credit, which exceeded the 0.60% drop in domestic credit.

The monetary base retreated by 1.50% MoM to AED 470.70 billion in June 2022 from AED 478 billion.

Additionally, the UAE’s money supply aggregate M1 went up by 2.30% to AED 726.20 billion at the end of June this year, versus AED 710.10 billion in May 2022.

Money supply aggregate M2 grew by 3.50% to AED 1.62 trillion in June 2022 from AED 1.56 trillion last May, while the money supply aggregate M3 increased by 2.60% to AED 1.93 trillion from AED 1.89 trillion.

In the first three months (3M) of 2022, the total value of the liquid assets in UAE-based banks enlarged by 6.60% year-on-year (YoY) to AED 518.55 billion from AED 486.58 billion.

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