(MENAFN - Khaleej Times) Lending by the uae banks and financial institutions rose 0.
in the same month total bank deposits increased by 0.6 per cent due to an increase in resident deposits by dh10.3 billion and a decrease in non-resident deposits by dh2 billion reaching dh1.299 trillion. total bank assets increased by one per cent to reach dh2.146.3 billion at the end of february 2014.
the central bank announced that the money supply aggregate m0 which is currency in circulation currency at banks increased by 1.1 per cent from dh63.5 billion at the end of january 2014 to dh64.2 billion at the end of february 2014. the money supply aggregate m1 which comprises currency in circulation plus monetary deposits increased by 1.9 per cent from dh389.2 billion at the end of january 2014 to dh396.6 billion at the end of february 2014.
the money supply aggregate m2 which comprises of m1 and quasi-monetary deposits (resident time and savings deposits in dirhams commercial prepayments in dirhams and resident deposits in foreign currencies) increased by 1.3 per cent at the end of february 2014. the money supply aggregate m3 which comprises m2 plus government deposits at banks operating in the uae as well as at the central bank increased by 0.9 per cent from dh1.23 trillion in january to dh1.243 trillion at the end of february 2014.