Total bank deposits in the UAE increased by Dh17.8 billion in October, attributable to an Dh1.9 billion increase in resident deposits and an Dh15.9 billion increase in non-resident deposits, said Central Bank of the UAE (CBUAE).

 

The Money Supply aggregate M1 decreased by 1.2 percent, from Dh511.9 billion at the end of September 2019 to Dh505.7 billion at the end of October 2019, said the CBUAE in its monthly report on Monetary & Banking Developments for October 2019, a Wam news agency report said.

 

According to the report, the Money Supply aggregate M2 increased by 0.8 percent, from Dh1361.3 billion at the end of September 2019 to Dh1372.7 billion at the end of October 2019.

 

The Money Supply aggregate M3 also increased by 0.1 percent, from Dh1679.9 billion at the end of September 2019 to Dh1680.9 billion at the end of October 2019.

 

The report indicated that gross bank assets, including bankers’ acceptances, rose by 0.6 percent, increasing from Dh3,022.7 billion at the end of September 2019 to Dh3,040.6 billion at the end of October 2019. Gross credit decreased by 0.7 percent from Dh1,720.8 billion at the end of September 2019 to Dh1708.5 billion at the end of October 2019.