File photo used for representation only.
Doha, Qatar: Qatar’s banking sector witnessed continued growth in December last year as commercial banks saw an increase in deposits and credit facilities.
The Planning and Statistics Authority’s official data revealed that the public sector deposits stood at QR342.634bn in commercial banks in December 2023 when compared to its previous month (November 2023) amounted to QR329.498bn showing a monthly rise of 4 percent. While in December 2022 it reached QR348.339 showing a decline of 1.6 percent on a yearly basis. On the other hand private sector deposits last year for the same period were QR464.298bn, recording a yearly increase of 1.3 percent and monthly decline of 1.1 percent.
The non-resident deposits in commercial banks in December last year amounted to QR179.052bn registering a decline of 7 percent on yearly basis and 1.9 percent monthly basis. The commercial banks total deposits in December 2023 accounted for QR985.984bn.
According to the official data Qatar’s commercial banks credit facilities in public sector during December 2023 reached QR368.152bn registering a decline of 2.57 percent and 1.6 percent on monthly and yearly basis. While the private sector credit facilities during the same month stood at QR863.798bn seeing a rise of 4.3 percent year on year and a decline of 0.7 percent month on month.
The non-resident credit facilities in commercial banks stood at QR55.98m. The country’s commercial banks total credit amounted to QR1.287 trillion in December 2023 showing a rise of 2.5 percent and 1.1 annually and monthly respectively.
The money supply1 (M1) amounted to QR139.251bn during December 2023, while the money supply2 (M2) recorded about QR722.656bn during December last year showing an annual and monthly rise of 1.1 percent and 0.7 percent. The money supply3 (M3) amounted to QR820.660bn during December 2023 showing monthly rise of 1 percent and yearly fall of 0.2 percent.
