Total banking assets, including bank acceptances, increased by 1.1% from AED 3.095 trillion at the end of February 2020 to AED 3.128 trillion by the end of March of the same year.
The latest statistics released by the Central Bank of the Emirates today showed that total bank credit increased by 1.3% from AED 1.7455 trillion at the end of February 2020 to AED 2.1768 billion at the end of March of the same year.
During March 2020, total bank deposits increased by 23.8 billion dirhams, as a result of an increase of 15.6 billion dirhams in residents ’deposits and an increase of 8.2 billion dirhams in non-residents deposits.
On the level of the money supply, the Central Bank announced that the “N1” money supply increased by 2.5% from 529.4 billion dirhams at the end of February 2020 to 542.7 billion dirhams at the end of March of the same year. Cash “Current accounts and demand accounts with banks” The N2 money supply increased by 2% from AED 1.426 trillion at the end of February 2020 to 1.455 trillion dirhams at the end of March of the same year.
“N2” includes both “N1” + quasi-cash deposits, “time deposits, savings deposits for dirhams, and residents’ deposits in foreign currencies. ”
The “N3” money supply increased by 1.2% from 1.6934 trillion dirhams at the end of February 2020 to 1.714 trillion dirhams at the end of March of the same year.
The Central Bank attributed the increase in the money supply "N1" to an increase of 3.7 billion dirhams in cash circulating outside the banks and an increase in cash deposits by 9.6 billion dirhams, and an increase in the money supply "N2" as a result of an increase in the money supply "N1" and an increase of 15.3 billion dirhams in deposits almost Cash, while the increase in the money supply “N3” is due to an increase in the money supply “N1” and “N2” and an increase in government deposits of AED 8.2 billion.