The Central Bank: The assets of the banking sector exceeded 3.6 trillion dirhams at the end of last October

 The Central Bank of the Emirates revealed that the total banking assets, including bank acceptance certificates, increased on a monthly basis by 0.9%, from 3.583 trillion dirhams at the end of last September to 3.615 trillion dirhams at the end of October 2022.

The Central Bank added, in the Monetary and Banking Developments Report for the month of October 2022, that Total bank credit increased by 0.2% from 1.873 trillion dirhams at the end of last September to 1.878 trillion dirhams at the end of October 2022, as a result of the increase in domestic credit by 0.1% and foreign credit by 1.5%.

The Central Bank attributed the increase in domestic credit to the increase in credit granted to the public sector (government-related entities) and the private sector by 0.7% and 0.1%, respectively.

He stated that total bank deposits increased by 0.8% from 2.187 trillion dirhams at the end of September to 2.205 trillion dirhams at the end of October 2022, as a result of the increase in resident deposits by 0.4% and non-resident deposits by 4.2%.

He pointed out that the increase in residents' deposits came as a result of the increase in government sector deposits and private sector deposits by 6.7% and 1.2%, respectively.

He pointed to the expansion of the monetary base by 0.5%, from 466.5 billion dirhams at the end of last September to 468.8 billion dirhams at the end of October 2022, due to the increase in the issued currency, the reserve account, certificates of deposit, and cash bills by 0.5%, 1.2%, and 7.7%, respectively. respectively.

The Central Bank’s report indicated that the money supply “M1” / includes cash circulating outside banks + cash deposits “current accounts and demand accounts with banks / remained almost stable in the range of 723.1 billion dirhams at the end of last October, with an increase in cash circulating outside banks by 1.6 billion

He pointed to a decrease in the money supply “N2” / includes “N1” + quasi-cash deposits “time and savings deposits for residents in dirhams and deposits for residents in foreign currencies / by 1% from 1.645 trillion dirhams at the end of last September to 1.629 trillion dirhams at the end of October

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As a result of the decrease in semi-cash deposits.

The money supply "N3" / includes "N2" + government deposits with banks operating in the country as well as with the Central Bank / increased by 0.5% from 2.048 trillion dirhams at the end of last September to 2.048 trillion dirhams.

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