A file photo of a man walking across the Grand Hamad Street, also known as the ‘Bank Street’ in Doha.
Doha: The banking sector in Qatar demonstrated resilience and has registered an impressive growth in November. Qatar’s commercial banks have witnessed a increase in deposits and credit facilities on year-on-year basis in November 2021 according to the Planning and Statistics Authority data.
The public sector deposits stood at QR283.2bn in commercial banks in November 2021 when compared with its counterpart in the previous year (November 2020) amounted to QR252.9bn showing a monthly and yearly growth of 1.5 percent and 12 percent respectively. On other hand private sector deposits in last year for the same period were QR403.02bn, recording a rise of 0.7 percent and 2.5 percent monthly and yearly.
The non-resident deposits in commercial banks in November 2021 amounted to QR277.6bn against QR238.71bn registering a growth of 16.3 percent on yearly basis. The banks total deposits in November 2021 accounted for QR963.8bn compared to QR884.82bn recording a rise of 8.9 percent in the review period.
According to the official data Qatar’s commercial banks credit facilities in public sector during November 2021 reached QR380.13bn attaining a monthly decrease of 0.4 percent and an annual increase of 7.6 percent. While the private sector credit facilities during the same month grew 1.1 percent and 9.5 percent month-on-month and year-on-year basis respectively.
In case of non-resident credit facilities in commercial banks witnessed 0.6 percent and 7.1 percent decline in November 2021. The country’s commercial banks total credit amounted to QR1213.8bn in November 2021 and QR1126.4bn in same month in 2020 showing a rise of 0.5 percent and 7.8 monthly and annually.
Qatar’s commercial banks registered 8.9 percent and 7.8 percent rise annually in total deposits and total credit facilities.
