The balance of the Central Bank of gold bullion rose to 11.754 billion dirhams at the end of last November, an increase on an annual basis, by 9.8%, or 1.05 billion dirhams, compared to 10,702 billion dirhams in November 2020.
The statistical bulletin issued by the Central Bank yesterday showed that the balance of the yellow metal rose on a monthly basis by 0.7%, compared to about 11.676 billion dirhams in the previous October, while it decreased by 8.6%, during the first 11 months of last year, compared to about 12.86 billion dirhams in the previous year. end of December 2020.
The value of the Central Bank’s balance of bullion recorded in 2021 is the largest since 2015, the date of the start of the entry of gold into the “Central” assets, after the Central decided at the time, to return to the formation of gold reserves for the first time in eight years, in addition to its basket of foreign exchange reserves. Gold is among the various assets owned by the Central Bank, including: liquid funds, certificates of deposit, and securities held to maturity.
savings deposits
In another context, the Central Bank of the Emirates revealed that savings deposits in the banking sector rose to 239.4 billion at the end of last November, compared to about 215.21 billion dirhams at the end of 2020, which means an increase of about 11.2%, or the equivalent of 24.2 billion dirhams, during the first 11 months of last year. On a monthly basis, it increased by 1.2%, or 2.85 billion dirhams, compared to 236.54 billion dirhams in October 2021.
Demand deposits rose to 820.8 billion dirhams last November, an increase on a monthly basis by 2.4%, or 19.5 billion dirhams, compared to 801.3 billion dirhams last October. While it rose by 17.7% during the first 11 months of last year, or the equivalent of 123.9 billion dirhams, compared to 696.88 billion dirhams at the end of December 2020.
According to the bulletin, time deposits decreased to 513.16 billion dirhams at the end of last November, down 3% on a monthly basis, or 16.15 billion dirhams, compared to 529.32 billion dirhams in the previous October, while they decreased during the first 11 months of last year by 16.8%, or equivalent to 103.4 billion dirhams, compared to 616.59 billion dirhams in December 2020.
Bank branches
The number of national bank branches in the country decreased to about 513 branches at the end of November, compared to 518 branches in October, 521 branches in September, 515 branches in August, 522 branches in June, 534 branches in May, and 541 branches in December 2020. The number of payment offices reached 20 The number of foreign bank branches remained constant at 27 branches distributed among 37 banks. The number of bank employees stabilized at 32,753 thousand employees in November, the same number recorded in last October and September, distributed as 25,957 employees in national banks, and 6796 employees in foreign banks.
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