UAE bank lending growth edges up in October, deposits dip

November 28, 2016 939

Annual bank lending growth in the United Arab Emirates edged up to 6.0 percent in October from 5.9 percent in September, central bank data showed.

UAE MONEY SUPPLY END-OCT 16 END-SEPT 16 END-OCT 15
M1 change yr/yr (pct) 3.7 4.2 4.8
M2 change yr/yr 3.1 3.6 5.1
M2-M1 pct change yr/yr 2.8 3.3 5.3
M3 pct change yr/yr 3.2 3.5 -0.8
Loans & advances yr/yr* 6 5.9 7.7

NOTE. * gross. Year-earlier figures are slightly revised.

Bank deposits dropped 0.4 percent from the previous month to 1.503 trillion dirhams in October because of a 5.3 percent fall in government deposits. Non-resident deposits edged up 0.3 percent.

Percentage changes are Reuters calculations based on official data.


Zawya