UAE - Annual bank lending in the United Arab Emirates grew 2.1 percent in March, the same rate seen in February, central bank data showed on Monday.
| UAE MONEY SUPPLY | END-MAR 18 | END-FEB 18 | END-MAR 17 |
| M1 change yr/yr (pct) | 1.2 | 4.3 | 2.9 |
| M2 change yr/yr | 1.7 | 3.3 | 4.4 |
| M2-M1 pct change yr/yr | 2 | 2.6 | 5.5 |
| M3 pct change yr | 4.2 | 3 | 6.7 |
| Loans & advances yr/yr* | 2.1 | 2.1 | 5.3 |
NOTE. Some previous figures are revised, * gross.
All bank lending data back to December 2013 was revised to reflect accounting adjustments to set off government refinancing against related housing mortgage loans.
Total bank deposits, which totalled 1.620 trillion dirhams in February, rose by 42.3 billion dirhams month-on-month in March, as resident deposits increased 40.5 billion dirhams and non-resident deposits gained 1.8 billion dirhams. Government deposits increased by 31.5 billion dirhams.
(Reporting by Andrew Torchia, Editing by Sherry Jacob-Phillips) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))
