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TABLE-UAE money supply growth picks up, bank loan growth keeps slowing
March 20, 2017 / 7:03 AM / 6 months ago

TABLE-UAE money supply growth picks up, bank loan growth keeps slowing

    March 20 (Reuters) - Money supply growth in the United Arab
Emirates picked up in February, partly because of an increase in
government deposits in the banking system, central bank data
showed on Monday. 
    But annual growth in bank lending slowed to its weakest
since at least March 2014, when the data series began.
            
UAE MONEY SUPPLY            END-FEB 17  END-JAN 17  END-FEB 16  
         
 M1 change yr/yr (pct)             3.1         1.4         5.3  
 M2 change yr/yr                   4.2         3.0         4.0
 M2-M1 pct change yr/yr            4.9         4.1         3.2
 M3 pct change yr/yr               6.7         4.8         1.5
 Loans & advances yr/yr*           5.4         5.7         7.9
    
    NOTE. * gross. Some year-earlier money supply figures are
slightly revised.
    Bank deposits, which totalled 1.562 trillion dirhams in
January, increased by 19.5 billion dirhams month-on-month in
February because of a 24.7 billion dirham rise in resident
deposits, which eclipsed a 5.2 billion dirham fall in
non-resident deposits. Government deposits rose by 12.9 billion
dirhams.

 (Reporting by Andrew Torchia; Editing by Andrew Heavens)
  

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