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Doha: The total assets of Qatar’s banking sector increased by 1.7% month-on-month (m-o-m) to reach QR1.846 trillion in June 2022 according to QNB Financial Services (QNBFS) report.
The total loan book of Qatar’s banking sector went up by 0.7% m-o-m and deposits moved up by 1.7% m-o-m in June this year. The private sector pushed the credit higher with 1.1% m-o-m in June. As deposits moved up by 1.7% in June, the Loans to deposits ratio (LDR) went down to 124.1% against 125.4% in May 2022, the report said.
The overall loan book moved up by 0.7% in June 2022 and the total private sector loans increased by 1.1% m-o-m in June this year.
Consumption & Others, Services and Real Estate segments mainly contributed toward the private sector loan growth for the month of June 2022. The loan growth in Consumption & Others, which contributes 21% to private sector loans went up by 2.2% m-o-m (+3.1% in 2022). The services that contributes 29% to private sector loans increased by 1.4% MoM (+4.6% in 2022) during the month of June 2022. Real Estate segment which contributes 21% to private sector loans moved up by 1.5% m-o-m (+4.2% in 2022). General trade that contributes 21% to private sector loans edged up by 0.2% m-o-m (+1.8% in 2022) during the month of June 2022.
Domestic Public Sector loans went up by 0.2% m-o-m (-4.0% in 2022). The government institutions’ segment (represents 60% of public sector loans) loan book increased by 0.3% m-o-m (0.7% in 2022), while the semi-government institutions’ segment moved up by 2.9% m-o-m (+3.8% in 2022). However, the government segment which represents 34% of public sector loans declined by 0.2% m-o-m (-12.1% in 2022). Outside Qatar loans went down by 1.1% m-o-m (-4.2% in 2022) during the month of June 2022.
Public sector deposits went up by 7.4% MoM (+14.1% in 2022) for the month of June 2022, resulting in the overall gains in the Qatar banking sector deposits. Looking at segment details, the government institutions’ segment which represents 54% of public sector deposits increased by 8.0% m-o-m (+17.4% in 2022), while the government segment that represents 32% of public sector deposits gained by 1.9% m-o-m (3.5% in 2022) and the semi-government institutions’ segment moved up by 18.6% m-o-m (+29.0% in 2022). However, Private sector deposits went down by 0.3% m-o-m (+6.7% in 2022). On the private sector front, the consumer segment moved down by 1.1% m-o-m (+3.0% in 2022), while the companies & institutions’ segment went up by 0.6% m-o-m (+11.1% in 2022). Non-resident deposits declined by 2.0% m-o-m (-20.6% in 2022) for the month of June 2022.
