Business - UAE lending, deposits up in Q1

Lending in the country rose 0.3 per cent, while deposits increased by 7.1 in the first three months of the year, according to the UAE Central Bank.
Loans rose 0.2 per cent month-on-month in March to Dh1.074 trillion, while bank deposits increased by 3.3 per cent to Dh1.146 trillion over the same period. Total bank deposits increased by 3.3 per cent during the month of March 2012 to close at Dh1.146 trillion.

Money supply aggregate M1 — which comprises currency in circulation plus monetary deposits, i.e., current accounts and call accounts at banks — increased by 1.4 per cent, from Dh276.3 billion at the end of February 2012 to Dh280.2 billion at the end of March of the same year.

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