The UAE's Central Bank announced today that total bank deposits in the country increased by 1.5 percent during the month of December 2011 to close at AED 1,069.7 billion. Meanwhile, total bank loans and advances (net of provisions and interest in suspense) decreased by 0.3 percent to reach AED 1,071.0 billion and total bank assets decreased by 0.6 percent to reach AED 1,662.1 billion, at the end of December 2011.
Money supply M0 (currency in circulation + currency at banks) decreased by 2.1 percent. from AED 53.2 billion at the end of November 2011 to AED 52.1 billion at the end of December of the same year.
Money supply aggregate M1 (currency in circulation plus monetary deposits, i.e., current accounts and call accounts at banks) decreased by 0.2 percent, from AED 264.6 billion at the end of November to AED 264.1 billion at the end of December of 2011.
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