Total assets of Qatari banks have increased by 0.6 percent month-on-month (MoM) in February, according to a latest report.
Qatar , Qatar
29 March 2021, 12:00 AM
10 April 2021, 12:00 AM
QNB Financial Services (QNBFS) has said in its latest report that Total assets of Qatari banks increased by 0.6 percent month-on-month (MoM) in February this year resulting in a rise of 1.3 percent year to date (YTD).
Public sector pulled total credit growth higher by 2 percent MoM in February, as private sector posted a growth of 0.3 percent MoM.
The loan book went up by 0.8 percent MoM (up 2.4 percent YTD) while deposits increased by 1.3 percent MoM (up 0.8 percent YTD) in February 2021.
As deposits increased by 1.3 percent in February, the report said, the LDR declined to 126.7 percent against 127.3 percent in January. Private sector deposits increased by 0.3 percent MoM and up 1.5 percent YTD. On the private sector front, the consumer segment posted a gain of 1.3 percent MoM (up 3.2 percent YTD) while the companies and institutions’ segment declined by 0.9 percent MoM (down 0.5 percent YTD).
Meanwhile, public sector deposits of Qatari banks declined by 0.3 percent MoM (down 2.1 percent YTD) for February.
The real estate sector that contributes 23 percent to private sector loans increased by 1.2 percent MoM.
“Real estate followed by consumption and others positively contributed toward the loan growth. On the other hand, the services sector pulled credit growth down in the month of February 2021,” the report said.