667 billion bank financing for trade and industry last May

Domestic banks increased their financing to the commercial and industrial sector for a second consecutive month to reach 666.9 billion AED at the end of May, an increase of 5.7% or 35.9 billion dirhams, against 631 billion dirhams. May 2017. According to the latest statistics from the UAE Central Bank, personal loans of domestic banks reached 305.3 billion dirhams at the end of May. With a value of 9 billion dirhams, or 3% over one year, against 296.3 billion dirhams Iwu 2017, while on a monthly basis decreased by 0.1%, compared to 305.5 billion dirhams last April. The credit of domestic banks to non-residents rose from 108.9 billion dirhams in May 2017 to 105.9 billion in May, down 2.8% year on year and 0.4% on a monthly basis against 106.3 billion in April 2018.

Deposits

On the other hand, deposits of domestic banks increased to AED 1313.9 billion in May, an increase of 4.8% compared to AED 1254.2 billion in May 2017, an increase of 1% compared to AED 1301.1 billion in April. Non-resident deposits increased to AED 156.7 billion, up 3.2% year-over-year.

Government deposits in domestic banks increased to AED 230 million, up 8.3 percent year-on-year and 9.7 percent on a monthly basis compared with AED 212.4 billion. In May 2017 and AED 209.7 billion in April, respectively. Public sector deposits (government-related entities) in domestic banks fell to AED 181.7 billion, down 2.5% from AED 186.3 billion in April and 5.2% on a year-on-year basis. year, against 172.8 billion Dirhams dirhams in May 2017.

Private sector deposits with domestic banks reached AED 876.2 billion in May, an increase of 5.2% year-on-year against 833 , AED 2 billion in May 2017.

$ 7 billion in excess liquidity withdrawn Central Bank "In May

the UAE Central Bank withdrew excess market liquidity during the month of May, from A value of about 7 billion dirhams.

The return of the central bank to remove excess liquidity came from the market after seeking in April to inject about 16.1 billion dirhams of cash into the banking system and in line with monetary policy [19659004] The central bank resorted to the withdrawal of excess liquidity from the market, which contributed to the increase of its certificates of deposit, which went from 118.2 billion AED in April to 125.2 billion AED at the end of May. Certificates of deposit are one of the tools used by the Central Bank to achieve its monetary policy objectives and manage liquidity in the national economy, as well as other tools that help to control the movement of money. liquidity in the domestic market. According to the Central Bank's liquidity management index through the use of the RDA facility, the injections were made in January 2018, the balance of the certificates falling to 132.4 billion AED vs. 135 billion AED in December 2017.