Total assets of Qatari banks go up to QR1.946 trillion

According to QNB Financial Services (QNBFS) has said in a report published on Tuesday, total assets of Qatar’s banking sector went up 0.4 percent MoM (up 2.2 percent in 2023) in November 2023 to reach QR1.946 trillion.

The report revealed that the total loan book of Qatar’s banking sector edged lower by 0.2 percent MoM (up 1.4 percent in 2023), while deposits inched up 0.2 percent MoM (-1.8 percent in 2023) in November 2023. The public sector pushed the overall credit lower. As deposits went up in November, the LDR declined to 129.7 percent against 130.3 percent in October 2023.

The overall loan book was slightly down 0.2 percent in November 2023. Total public sector loans declined 2.5 percent MoM (-4.1 percent in 2023).

The government segment (represents 27 percent of public sector loans) was the main drag for the public sector with a drop by 9 percent MoM (-15.2 percent in 2023), while the semi-government institutions’ segment declined by 5.4 percent MoM (+23.9 percent in 2023).

However, the government institutions’ segment that represents 66 percent of public sector loans) moved up 0.8 percent MoM (-0.8 percent in 2023).

Total private sector loans went up 0.8 percent MoM (+4.2 percent in 2023) in November 2023. The consumption and others, general trade and services segments were the main drivers for the private sectorloan rise.

Consumption and others that contribute 21 percent to private sector loans increased 2.2 percent MoM (+7.7 percent in 2023), while general trade (contributes 21 percent to private sector loans) went up 1.7 percent MoM (+7.6 percent in 2023), and services (contributes 31 percent to private sector loans) moved up 1 percent MoM (+10.1 percent in 2023).

However, the real estate segment that contributes 20 percent to private sector loans went down 1 percent MoM (-6.5 percent in 2023) in November 2023. Outside Qatar, loans edged up by 0.2 percent MoM (-2.7 percent in 2023) during November 2023.

Non-resident deposits increased 1.3 percent MoM (-5.2 percent in 2023) in November 2023.

Public sector deposits went up 0.4 percent MoM (-5.4 percent in 2023) for November 2023. Looking at segment details, the government segment that represents 29 percent of public sector deposits increased by 4.4 percent MoM (-10.4 percent in 2023).

Private sector deposits moved lower by 0.3 percent MoM (+2.5 percent in 2023) in November 2023. On the private sector front, the companies & institutions segment went down slightly by 0.5 percent MoM (-1.9 percent in 2023), while the consumer segment edged down by 0.2 percent MoM (+6.8 percent in 2023) during November 2023.

Qatar banking sector loan provisions to gross loans were at 3.9 percent during both November and October 2023. Qatar banking sector liquid assets to total assets was at 31.4 percent in November 2023, compared to 31.1 percent in October 2023.