Total assets of banks in Qatar increased by 0.8 percent month-on-month (MoM) in March 2022 to reach QR1.832 trillion, QNB Financial Services (QNBFS) has said in a report released on Monday.
In its monthly banking sector update, QNBFS said the loan book of Qatari banks increased by 0.4 percent MoM, while deposits went up by 0.3 percent MoM.
The private sector pushed the credit up 4.2 percent MoM in March. As deposits went up by 0.3 percent in March, the LDR went slightly up to 125.6 percent versus 125.5 percent in February 2022.
Public sector deposits went up by 4.2 percent MoM for the month of March 2022 resulting in the overall gain in deposits. Looking at segment details, the government segment, while the semi-government institutions’ segment moved up by 4.9 percent MoM. However, the government institutions’ segment declined marginally by 0.1 percent MoM. Private sector deposits moved down by 0.2 percent MoM. On the private sector front, the companies and institutions’ segment went down by 0.8 percent MoM and the consumer segment went up by 0.3 percent MoM. Non-resident deposits declined by 2.9 percent
MoM.
The overall loan book moved higher by 0.4 percent in March 2022. Total Private sector loans moved up by 0.4 percent MoM in March 2022. Consumption and others segment and the General Trade segment mainly contributed toward the private sector loan growth for the month of March 2022.
Consumption and others segment increased by 1.3 percent MoM. General Trade went up by 0.6 percent MoM. Services moved up by 0.2 percent MoM. However, Real Estate edged down marginally by 0.1 percent MoM during the month of March 2022.
Domestic Public Sector loans went up by 0.6 percent MoM. The government segment’s loan book increased by 1.4 percent MoM, while the semi-government institutions’ segment moved up by 6.3 percent MoM. However, the government institutions’ segment declined slightly by 0.4 percent MoM during the month of March 2022.