Bahrain pushes ahead with Muharraq city redevelopment plan Halliburton wins multi-year Aramco gas development contract Saudi: Kent secures long-term deals with Aramco for future EPC projects Oman and Jordan launch $100mln investment firm Modon, ADIB introduce Abu Dhabi’s first off-plan home financing solutions Abu Dhabi launches maritime investment guide to attract global businesses Saudi Arabia inaugurates over 900km of roads to boost connectivity Gulftainer unveils $2bln global trade infrastructure strategy Saudi Arabia's trade surplus surges 60% to over $24bln in Q1 2026 UAE, Panama discuss boosting trade, investment, supply chains as part of 'UAE Trade Days' Sharjah Chamber registers 30,000 memberships in H1 Saudi tourism spending reaches record $81bln in 2025 Dubai's AMIS breaks ground on Jacob & Co.’s villa community; targets $10bln IPO in three years UAE's new government work model to deploy Agentic AI in public services Indonesia, Kuwait strengthen strategic energy partnership Kuwait unveils framework for 15-year residency for expat investors Riyadh Air takes off on first domestic route to Jeddah Bahrain issues laws to protect investments Qatar's Hamad Port sails into the world's top eight Kuwait air traffic returns to normal, flights resume QatarEnergy announces new oil discovery offshore Namibia UAE developer Alef launches $1.1bln mixed-use development in Sharjah ADNOC eyeing Canada upstream and LNG opportunities via XRG arm, executive says Dubai real estate deals in April surge to $18.7bln Saudi's SAMA mandates advance notification of investment rounds by financing companies Qatar maritime trade activity accelerates in May Oil steadies as uncertainty over US-Iran talks keeps markets on edge Qatar: Relatively hot daytime conditions expected, moderate night Dubai Centre for Family Businesses explores ways to strengthen business adaptability Saudi Crown Prince, UAE President discuss regional security and cooperation

Log in

عربي

Media Centre

Home » Media Centre

Gross banks’ assets up by 2.4% to $121.6bln at end of December 2024: CBUAE

Gross banks’ assets up by 2.4% to $121.6bln at end of December 2024: CBUAE

Gross banks’ assets up by 2.4% to $121.6bln at end of December 2024: CBUAE

Mar 13, 2025

ABU DHABI – The Central Bank announced the increase in money supply aggregate M1 by 2.3%, from AED 924.8 billion at the end of November 2024 to AED 946.4 billion at the end of December 2024.

The increase was brought about by AED 1.1 billion growth in currency in circulation outside banks and AED 20.6 billion increase in monetary deposits.

The money supply aggregate M2 increased by 1.7%, increasing from AED 2,278.9 billion at the end of November 2024 to AED 2,317.5 billion at the end of December 2024. M2 increased because of an elevated M1, and AED 17.0 billion increase in Quasi-Monetary Deposits.

The money supply aggregate M3 also increased by 0.4%, from AED 2,767.4 billion at the end of November 2024 to AED 2,778.9 billion at the end of December 2024. M3 increased mainly due to the growth in M2, overriding AED 27.1 billion decrease in government deposits.

The monetary base increased by 4.4%, from AED 748.0 billion at the end of November 2024 to AED 780.6 billion at the end of December 2024. The growth in the monetary base was driven by an increase of 0.1% in currency issued, 0.6% in reserve account, 23.7% in banks & OFCs’ current accounts & overnight deposits of banks at CBUAE and 4.1% in monetary bills & Islamic certificates of deposit.

Gross banks’ assets, including bankers’ acceptances, increased by 2.4% from AED 4,451.4 billion at the end of November 2024 to AED 4,560.0 billion at the end of December 2024.
Gross credit also increased by 0.8% from AED 2,163.4 billion at the end of November 2024 to AED 2,181.1 billion at the end of December 2024. Gross credit increased due to an increase in foreign credit by 8.3%, overshadowing the decrease in domestic credit by 0.4%.

Domestic credit declined due to decreases in credit to the public sector (government-related entities) by 2.5%, private sector by 0.2% and non-banking financial institutions by 2.5%. Whereas, credit to the government sector increased by 1.6%.

Banks’ deposits increased by 1.5%, from AED 2,804.4 billion at the end of November 2024 to AED 2,847.0 billion at the end of December 2024. The growth in bank deposits was due to increases in resident deposits by 0.5% and non-resident deposits by 13.9%.

Resident deposits grew as a result of increases in government-related entities deposits by 4.2%, private sector deposits by 0.9% and non-banking financial institutions deposits by 16.5%, overshadowing the decrease in government sector deposits by 5.2%.