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Annual bank lending growth in the United Arab Emirates slowed slightly in July, central bank figures showed on Wednesday.
UAE MONEY SUPPLY | END-JULY 18 | END-JUNE 18 | END-JULY 17 |
M1 change yr/yr (pct) | -0.2 | -2.3 | 5.9 |
M2 change yr/yr | 3 | 2.6 | 6.1 |
M2-M1 pct change yr/yr | 5.1 | 5.9 | 6.3 |
M3 pct change yr | 6.6 | 6.2 | 6.9 |
Loans & advances yr/yr* | 3.2 | 3.4 | 3.4 |
NOTE. * gross.
Bank deposits, which totalled 1.684 trillion dirhams in June, rose by 10.6 billion dirhams month-on-month in July because of a 4.6 billion dirham gain in resident deposits and a 6.0 billion dirham increase in non-resident deposits. Government deposits edged up by 0.2 billion dirhams.
(Reporting by Andrew Torchia; Editing by Vyas Mohan) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))