Qatar Banks’ Assets Grow by 10.9 Percent in 2017, Despite Blockade

Published December 28th, 2017 - 11:00 GMT
Banks’ assets in Qatar rose by QR14 billion in November, a 10.9 percent jump from a year ago. (Shutterstock)
Banks’ assets in Qatar rose by QR14 billion in November, a 10.9 percent jump from a year ago. (Shutterstock)

Banks’ assets (and liabilities) in Qatar rose by QR14bn to QR1332.7bn in November, compared to QR1318.7bn in October, 10.9 percent jump from a year ago.

Deposits from government and public sector have increased by QR9.6bn to QR308bn. Government deposits recorded QR92.4bn in November, while the deposits of government institutions settled at QR186.6bn. The deposits of semi-government institutions, in which government share is less than 100 percent and more than 50 percent, settled at QR32.1bn.

On the other hand, the total loans of the government and public sector increased by QR7.5bn to reach QR350.9bn, The Group Securities noted in its review of the banks’ consolidated balance sheets for the month of November 2017.

A breakdown shows government deposits stood at QR184.5bn in November, up by QR7.1bn and government institutions at QR146.2bn, an increase of QR0.5bn. The semi-governmental institutions’ deposits stood at QR20.2bn, a drop of QR0.2bn.

In addition, figures suggest that the balance of government bonds and bills increased by QR1.9bn to QR142.5bn. The total domestic public debt (government, government institutions and semi-government institutions, as well as bonds, bills and sukuk) increased by QR9bn to QR493bn.

The total domestic private sector deposits at local banks increased by QR0.8bn to QR348.3bn, by the end of November, which is QR4.6bn higher than a year ago in November 2016, this translates to an annual growth rate of 1.3 percent.

Total domestic loans and credit facilities provided by banks to the local private sector increased by QR2.3bn to QR461bn. The facilities to the real estate sector touched QR143.3bn, while individual consumer loans stood at QR123.2bn. Credit to trade reached QR63.9bn, while services sector availed QR65.4bn. In addition, there were loans and facilities amounting to QR17.5bn for the non-banking financial sector.

Commercial banks’ investments in securities outside Qatar dropped by QR0.8bn to QR18.8bn, as their assets at foreigner banks increased by QR6.4bn to QR67.3bn. Local banks’ loans to foreign parties decreased by QR1.4bn to QR91.8bn, but their investments in foreign companies settled at QR40.2bn. Other assets outside the country reached QR3.8bn.

In contrast, foreign banks deposits from local banks increased by QR5bn to QR176.7bn. Domestic banks’ foreigner debt, in the form of bonds and certificates of deposits, increased by QR0.4bn to QR46.7bn. The balance of foreign deposits at Qatari banks was declined by QR2.6bn to QR134.9bn.

By comparing domestic and foreign assets with liabilities, The Group analysts noted that net liabilities of the banking sector to foreigner entities decreased by QR9.9bn by the end of November to QR136.4bn. (The Peninsula)

By Satish Kanady

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