(MENAFN - Khaleej Times) Deposits at the UAE banks surged 1.1 per cent during the month of August 2012 to close at Dh1.127 trillion.
In the same month loans and advances dropped 0.1 per cent to reach Dh1.090.5 trillion, and total bank assets increased by 0.5 per cent to reach Dh1.733 trillion.
During the first eight months of 2012, intermediary monetary aggregate M2 increased by 1.1, while bank loans and advances increased by 1.8 per cent and bank deposits fell by 5.4 per cent, said the Central bank of the UAE.
Central Bank announced that money supply M0 includes currency in circulation and currency at banks, increased by 1.1 per cent from Dh55.1 billion at the end of July 2012 to Dh55.7 billion at the end of August 2012.
Money supply aggregate M1, which is a combination of currency in circulation plus monetary deposits, i.e., current accounts and call accounts at banks, decreased by 0.5 per cent, from Dh286.4 billion at the end of July 2012 to Dh285.0 billion at the end of August of the same year.
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 0.3 per cent, to Dh835.0 billion at the end of August of the same year.