The banking sector in Qatar demonstrated resilience and has registered growth in June. Qatar’s commercial banks have witnessed an increase in deposits and credit facilities on year-on-year basis in June 2022 according to the Planning and Statistics Authority data.
The public sector deposits stood at QR329.23bn in commercial banks in June 2022 when compared with its counterpart in the previous year (June 2021) amounted to QR291.87bn showing a yearly growth of 12.8 percent and rise of 7.8 percent on monthly basis. On other hand private sector deposits in last year for the same period were QR431.9bn, recording an increase of 8.8 percent on yearly
basis.
The non-resident deposits in commercial banks in June this year amounted to QR222.83bn against QR227.29bn registering a decline of 18 percent on yearly basis and decline of 2 percent month-on-month. The commercial banks total deposits in June 2022 accounted for QR983.97bn compared to QR960.62bn recording a rise of 2.4 percent year-on-year and 1.7 percent month-on-month.
According to the official data Qatar’s commercial banks credit facilities in public sector during June 2022 reached QR364.61bn attaining a monthly growth of 0.2 percent. While the private sector credit facilities during the same month stood at QR789.78bn seeing a rise of 7.4 percent and 1.1 percent on year-on-year and month-on-month basis respectively.
In case of non-resident credit facilities in commercial banks witnessed 5 percent and 1.1 percent decline in June 2022 on yearly and monthly basis. The country’s commercial banks total credit amounted to QR1.221 trillion in June 2022 compared to QR1.212 trillion in same month in 2021 showing a rise of 1.4 percent
annually.
The money supply1 (M1) amounted to QR158.97bn during June 2022 showing an annual and monthly decrease of 0.9 percent and 2.4 percent. While the money supply2 (M2) recorded about QR675.06bn during June 2022 compared to QR617.88bn in same period in 2021, an annual and monthly rise of 9.3 percent and 2.8 percent. The money supply3 (M3) stood at QR775.69bn registering a growth of 10.3 percent and 2.8 percent on year-on-year and month-on-month basis.
