The banking sector in Qatar demonstrated resilience and has registered growth in February. Qatar’s commercial banks have witnessed an increase in deposits and credit facilities on year-on-year basis in February 2022 according to the Planning and Statistics Authority data.
The public sector deposits stood at QR279.5bn in commercial banks in February 2022 when compared with its counterpart in the previous year (February 2021) amounted to QR257.8bn showing a yearly growth of 8.4 percent and decline of 0.4 percent on monthly basis. On other hand private sector deposits in last year for the same period were QR418.8bn, recording a rise of 3.9 percent and 2.7 percent monthly and yearly.
The non-resident deposits in commercial banks in February this year amounted to QR266.2bn against QR251.5bn registering a growth of 5.8 percent on yearly basis and decline of 2.1 percent month-on-month. The commercial banks total deposits in February 2022 accounted for QR964.5bn compared to QR912.4bn recording a rise of 5.7 percent year-on-year.
According to the official data Qatar’s commercial banks credit facilities in public sector during February 2022 reached QR369.1bn attaining a yearly and monthly decrease of 2.1 percent and 1.5 respectively. While the private sector credit facilities during the same month stood at QR722.7bn seeing a rise of 9.7 percent and 0.4 percent on year-on-year and month-on-month basis respectively.
In case of non-resident credit facilities in commercial banks witnessed 7.8 percent and 0.3 percent decline in February 2022 on yearly and monthly basis. The country’s commercial banks total credit amounted to QR1210.8bn in February 2022 compared to QR1156.2bn in same month in 2021 showing a rise of 4.5 percent annually.
Qatar’s commercial banks registered 5.7 percent and 4.7 percent rise annually in total deposits and total credit facilities.
The money supply1 (M1) amounted to QR162.9bn during February 2022 showing an annual and monthly increase of 3.1 percent and 5.9 percent. While the money supply2 (M2) recorded about QR630.9bn during February 2022 compared to QR598bn in same period in 2021, an annual and monthly rise of 5.5 percent and 3.1 percent. The money supply3 (M3) stood at QR712.3bn registering an growth of 5.6 percent and 1.4 percent on year-on-year and month-on-month base.
