Abu Dhabi – Mubasher: Assets of banks operating in the UAE increased 1.2% month-on-month by the end of January, the Central Bank of the UAE said on Tuesday.

Lenders’ assets grew to AED 2.913 trillion in January, including bank acceptances, from AED 2.878 in the previous month.

The UAE’s bank lending hiked 0.3% to AED 1.662 trillion in January, against AED 1.656 trillion in December, the data showed.

Banks’ total deposits inched down by the end of the first month of 2019, dragged by the drop of resident and non-resident deposits.

The money supply (M1) inched up 0.1% to AED 486 billion by the end of January from AED 448.5 billion a month earlier, according to the central bank’s report.

Meanwhile, M2 declined to AED 1.305 trillion in January, versus AED 1.308 trillion in December.

Similarly, M3 advanced 0.05% to AED 1.603 billion in January from AED 1.602 trillion in the month before.

Source: Mubasher

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