Banking assets exceeded 5.63 trillion dirhams by the end of last May

Total banking assets in the UAE, including bank acceptances, increased by 1.1% during last May to exceed 5.633 trillion dirhams at the end of the month, compared to 5.57 trillion dirhams at the end of the previous April, according to the Monetary and Banking Developments Report for May 2026 issued today by the Central Bank.

The report showed an increase in total bank credit by 12.3 billion dirhams, or 0.5%, to reach about 2.733 trillion dirhams at the end of May, compared to about 2.72 trillion dirhams at the end of April.

The increase in total credit was driven by an increase in domestic credit by 13.8 billion dirhams, while foreign credit had a negative impact of 0.1 percentage points, settling at 562.5 billion dirhams.

All major sectors of domestic credit contributed positively to this growth.

The main driver of domestic credit growth was the increase in credit granted to the private sector, especially the increase in credit granted to both companies and individuals, which increased by about 4.6 billion dirhams for each, and each of them contributed about 0.2 percentage points to the growth of gross domestic credit.

Credit granted to government-related entities also increased by 3.5 billion dirhams, or 1%, contributing about 0.2 percentage points to domestic credit growth.

On the deposit side, bank deposits amounted to 3.463 trillion dirhams at the end of May.

With regard to monetary totals, the money supply “M1” amounted to about 1.054 trillion dirhams at the end of May, cash in circulation outside banks amounted to 167.6 billion dirhams, and cash deposits stabilized at 885.9 billion dirhams.

The M2 money supply stabilized at about 2.854 trillion dirhams at the end of May.

Among quasi-cash deposits, deposits in dirhams rose to 1.135 trillion dirhams, which contributed positively to the monthly change in the money supply (M2).

The “M3” money supply amounted to 0.4%, amounting to 3.393 trillion dirhams at the end of May, and government sector deposits rose to 539.5 billion dirhams, which constituted a positive contribution to the monthly change in the “M3” money supply.

The monetary base reached 848.5 billion dirhams at the end of May, and bank reserve balances with the Central Bank recorded a significant increase of 49.4% to reach 295.4 billion dirhams.

Banking operations data showed an increase in the cumulative value of local financial transfers carried out through the Emirates Money Transfer System to 11.502 trillion dirhams by the end of May, that is, during the first five months of this year, distributed by about 6.903 trillion dirhams for transfers made by banks, and about 4.6 trillion dirhams for transfers made by customers.

During May, the value of transfers amounted to about 2.118 trillion dirhams, distributed at about 1.199 trillion dirhams for bank transfers, and about 919.1 billion dirhams for customer transfers.

On the other hand, the monthly statistical bulletin of the Central Bank showed that the gold balance at the Central Bank reached 39.937 billion dirhams at the end of last May.