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Doha, Qatar: Qatar’s banking sector registered growth in May as commercial banks have witnessed an increase in deposits and credit facilities on year-on-year basis in May 2023 according to the Planning and Statistics Authority's official data.
The public sector deposits stood at QR326.928bn in commercial banks in May 2023 when compared with its counterpart in the previous year (May 2022) amounted to QR306.678bn showing a yearly rise of 6.6 percent. While in the previous month (April 2023) it reached QR333.934 showing a decline of 2.1 percent on a monthly basis. On the other hand private sector deposits in this year for the same period were QR451.276bn, recording an increase of 4.2 percent and 0.5 percent on a yearly and monthly basis respectively.
The non-resident deposits in commercial banks in May this year amounted to QR176.335bn against QR227.296bn registering a decline of 22.4 percent on yearly basis and 2.7 percent monthly basis. The commercial banks total deposits in May 2023 accounted for QR954.539bn.
According to the official data Qatar’s commercial banks credit facilities in public sector during May 2023 reached QR364.967bn registering an increase of 0.3 percent year on year and a decline of 0.22 percent month on month. While the private sector credit facilities during the same month stood at QR829.729bn seeing a rise of 6.3 percent year on year and a decline of 0.5 percent month on month.
In case of non-resident credit facilities in commercial banks stood at QR57.64m registering 14.9 percent and 1.5 percent decline in May 2023 on yearly and monthly basis. The country’s commercial banks total credit amounted to QR1.252 trillion in May 2023 compared to QR1.212 trillion in same month in 2022 showing a rise of 3.3 percent and 0.2 respectively annually and monthly.
The money supply1 (M1) amounted to QR154.603bn during May 2023 showing an annual decline of 8.3 percent. While the money supply2 (M2) recorded about QR699.178bn during May 2023 compared to QR656.505bn in same period in 2022, an annual rise of 6.5 percent and monthly decline of 0.6 percent. The money supply3 (M3) amounted to QR792.854bn during May 2023 showing an annual rise of 5 percent.
The PSA noted that the number of shares traded grew by 164.4 percent month on month and 89.2 percent year on year. It also recorded a rise in the value of shares traded by 142.1 percent in May 2023 compared to the previous month.
