12% bank asset growth to 4.56 trillion dirhams at the end of 2024

Abu Dhabi, March 12 / WAM / The total bank assets increased, including bank admission certificates, during the past year 2024 by 12%, by 488.9 billion dirhams to 4.56 trillion dirhams at the end of December 2024 compared to 4.071.1 trillion dirhams at the end of 2023.

The percentage of assets on a monthly basis was 2.4% at the end of December 2024, compared to 4.451.4 trillion dirhams at the end of November 2024.
According to the report of the monetary and banking developments for the month of December 2024, issued by the United Arab Emirates Bank today, the total credit increased by 0.8% to 2,181.1 trillion dirhams at the end of December, compared to 2.163.4 trillion dirhams at the end of November.
The growth of total credit is due to the increase in foreign credit by 8.3%, bypassing the decrease in local credit by 0.4%. The decrease in local credit is due to the decline in the credit of the public sector and the government -related entities by 2.5%, and the credit of the private sector by 0.2%, and in credit for non -banking financial institutions by 2.5%, while the credit directed to individuals increased by 1.6%.
Total banking deposits increased by 1.5% to 2.847 trillion dirhams at the end of December, compared to 2.804.4 trillion dirhams at the end of November.
This increase is due to the increase in the deposits of residents by 0.5%, and the increase in non -resident deposits by 13.9%.
The deposits of the residents increased as a result of increases in the deposits of entities related to the government by 4.2%, the deposits of the private sector by 0.9%, and the deposits of non -bank financial institutions by 16.5%, exceeding the decrease in government sector deposits by 5.2%.
The Central Bank announced the increase in the total monetary supply (N1) by 2.3% from 924.8 billion dirhams at the end of November 2024 to 946.4 billion dirhams at the end of December 2024.
This is due to an increase of 1.1 billion dirhams in the value of cash on banks, and an increase of 20.6 billion dirhams in cash deposits.
The total monetary width (N2) increased by 1.7% from 2.278.9 trillion dirhams at the end of November 2024 to 2.317.5 trillion dirhams at the end of December 2024. The increase in the monetary supply (N2) is due to the rise in the monetary width (N1), and the increase of 17 billion dirhams in semi -cash deposits.

The total monetary width (N3) increased by 0.4% from 2.767.4 trillion dirhams at the end of November 2024 to 2.778.9 trillion dirhams at the end of December 2024.
The expansion of the monetary supply (N3) is attributed to the growth in the cash supply (N2), bypassing the decrease by 27.1 billion dirhams in government deposits.
The monetary base increased by 4.4% from 748 billion dirhams at the end of November 2024 to 780.6 billion dirhams at the end of December 2024.
The increase in the monetary base was driven by 0.1% in the exporting currencies, an increase of 0.6% in the reserve account, an increase of 23.7% in the current accounts of banks and other financial institutions and deposits for one night with the central bank, and an increase of 4.1% in cash permissions and Islamic deposit certificates.
In addition, according to the data issued today, the assets of the foreign central bank reached the end of December of last year, 860.45 billion dirhams.
Foreign assets of Al -Sakhzi were distributed, at 581.67 billion dirhams of banking balances and deposits of banks abroad, 218.91 billion dirhams in foreign securities, and 59.87 billion dirhams for other foreign assets.
The public budget of the central bank amounted to 895.8 billion dirhams at the end of last year, compared to about 861.5 billion dirhams at the end of November.
The public budget – the liability and capital category as at the end of December, was distributed by 431.29 billion dirhams for current accounts and deposit accounts, 251.46 billion dirhams for cash permissions and Islamic deposit certificates, 152.75 billion dirhams for banknotes and issued coins issued, and 28.01 billion dirhams for other opponents, and capital and reserves amounted to 32.29 billion dirhams.
As for the public budget of the Central – the asset category, it was distributed by 456.23 billion dirhams in cash and banking balances, 148.27 billion in deposits, 245.62 billion dirhams in investments, 0.9 billion dirhams in loans and predecessors, and 44.78 billion dirhams for other assets.

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