Gross banks' assets up by 1.9% to Dh 4,719.4 billion at end of March: CBUAE
ABU DHABI (WAM) The Central Bank of the UAE (CBUAE) announced the increase in money supply aggregate M1 by 0.4%, from Dh982.4 billion at the end of February 2025 to Dh986.2 billion at the end of March 2025.The increase was due to the Dh5.1 billion growth in currency in circulation outside banks, overriding the Dh1.4 billion decrease in monetary deposits.The money supply aggregate M2 increased by 3.3%, increasing from Dh 2,360.3 billion at the end of February 2025 to Dh 2,437.7 billion at the end of March 2025. M2 increased because of an elevated M1, and Dh73.8 billion increase in Quasi-Monetary Deposits.The money supply aggregate M3 also increased by 2.9%, from Dh 2,811.7 billion at the end of February 2025 to Dh 2,893.7 billion at the end of March 2025. M3 increased due to the growth in M2, and Dh 4.5 billion increase in government deposits.The monetary base increased by 2.0%, from Dh 816.6 billion at the end of February 2025 to Dh 833.1 billion at the end of March 2025. The growth in the monetary base was driven by increases in currency issued by 4.1% and in reserve account by 62.0%, overriding the decrease in banks & OFCs' current accounts & overnight deposits of banks at CBUAE by 64.2% and in monetary bills & Islamic certificates of deposit by 6.3%.Gross banks' assets, including bankers' acceptances, increased by 1.9% from Dh 4,632.2 billion at the end of February 2025 to Dh 4,719.4 billion at the end of March 2025.Gross credit increased by 1.6% from Dh 2,204.3 billion at the end of February 2025 to Dh 2,240.0 billion at the end of March 2025. Gross credit increased due to the combined growth in domestic credit by Dh 19.5 billion and foreign credit by Dh 16.2 billion. The growth in domestic credit was due to increases in credit to the; public sector (government-related entities) by 0.2%, private sector by 1.4% and non-banking financial institutions by 1.9%, while credit to the government sector decreased by 0.3%.Banks' deposits increased by 2.3%, from Dh 2,871.5 billion at the end of February 2025 to Dh 2,936.4 billion at the end of March 2025. The increase in bank deposits was driven by the shared growth in resident deposits by 2.4%, settling at Dh 2,687.8 billion and in non-resident deposits by 0.4%, reaching Dh 248.6 billion. Within the resident deposits; government-related entities deposits increased by 4.3%, private sector deposits increased by 3.1% and non-banking financial institutions deposits increased by 5.1%, while deposits to the government sector decreased by 2.3%, by the end of March 2025.
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