Advertisement
| 15 August, 2018

UAE bank lending growth slows slightly in July, deposits rise

Annual bank lending growth in the United Arab Emirates slowed slightly in July, central bank figures showed

Image used for illustrative purpose.
A customer makes a transaction at Emirates Bank in Dubai March 7, 2007.

Image used for illustrative purpose. A customer makes a transaction at Emirates Bank in Dubai March 7, 2007.

REUTERS/Mohammed Salem

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))