Doha: Qatar's banking sector registered growth in September as commercial banks have witnessed an increase in deposits and credit facilities on year-on-year basis in September 2022 according to the Planning and Statistics Authority official data.
The public sector deposits stood at QR324.63bn in commercial banks in September 2022 when compared with its counterpart in the previous year (September 2021) amounted to QR293.31bn showing a yearly rise of 10.7 percent and of 1.3 percent on monthly basis. On other hand private sector deposits in last year for the same period were QR436.66bn, recording an increase of 9.4 percent and 0.5 percent on yearly and monthly basis respectively.
The non-resident deposits in commercial banks in September this year amounted to QR203.75bn against QR227.29bn registering a decline of 28 percent on yearly basis and decline of 2.8 percent month-on-month. The commercial banks total deposits in September 2022 accounted for QR965.054bn.
According to the official data Qatar’s commercial banks credit facilities in public sector during September 2022 reached QR354.86bn a decline of 8.6 percent and 2.1 percent on yearly and monthly basis respectively. While the private sector credit facilities during the same month stood at QR795.02bn seeing a rise of 5.7 percent and 0.5 percent on year-on-year and month-on-month basis respectively.
In case of non-resident credit facilities in commercial banks stood at QR63.72m registering 9 percent and 1.8 percent decline in September 2022 on yearly and monthly basis. The country’s commercial banks total credit amounted to QR1.213 trillion in September 2022 compared to QR1.210 trillion in same month in 2021 showing a rise of 0.3 percent annually.
The money supply1 (M1) amounted to QR157.71bn during September 2022 showing an annual increase of 5.4 percent and monthly decline of 0.1 percent. While the money supply2 (M2) recorded about QR687.68bn during September 2022 compared to QR617.4bn in same period in 2021, an annual and monthly rise of 11.4 percent and 1.4 percent.
