Satyendra Pathak
Doha
The total assets of Qatar’s banking sector increased by 0.9 percent month-on -month (MoM), up 0.9 percent in 2022 in November 2022 to reach QR1.845 trillion, QNB Financial Services (QNBFS) has said in a report released on Monday.
According to the report, Qatar’s banking sector’s total loan book went up by 0.3 percent MoM (up 0.5 percent in 2022) and deposits moved up by 0.4 percent MoM (-1.6 percent in 2022) in the month of November 2022.
The private sector pushed the overall credit higher (up 0.8 percent MoM in November). As deposits gained by 0.4 percent in November, the LDR edged down to 127.6 percent against 127.8 percent in October 2022.
Total private sector loans moved up by 0.8 percent MoM (+5.2 percent in 2022) in November 2022, the report said adding that the real estate, services, and general trade segments were the main contributors toward the private sector loan growth for the month of November 2022.
The real estate segment, which contributes 22 percent to private sector loans increased by 2 percent MoM (+8.7 percent in 2022). The services sector, which contributes 29 percent to private sector loans, went up by 0.7 percent MoM (+8.5 percent in 2022). General trade, which contributes 20 percent to private sector loans gained 0.9 percent MoM (0.8 percent in 2022), while consumption and others, which contributes 21 percent to private sector loans, moved up by 0.2 percent MoM (+5.1 percent in 2022) during the month of November 2022.
Outside Qatar, the report said, loans declined by 2.9 percent MoM (-10.4 percent in 2022) during the month of November 2022.
Domestic public sector loans went down slightly by 0.2 percent MoM (-6.9 percent in 2022). The government segment, which represents 30 percent of public sector loans, dropped by 0.9 percent MoM (-25.5 percent in 2022), while the semi-government institutions’ segment declined by 1.1 percent MoM (+1.1 percentin 2022).
However, the government institutions’ segment, which represents 65 percent of public sector loans, loan book increased by 0.2 percent MoM (+4.5 percent in 2022).
Private sector deposits moved higher by 2.3 percent MoM (+11.9 percent in 2022), pushing up the overall Qatar Banking Sector deposits for the month. On the private sector front, the companies & institutions segment rose 4.6 percent MoM (+23.8 percent in 2022). Meanwhile, the consumer segment went down slightly by 0.1 percent MoM (+1.9 percent in 2022) during November 2022.
Public sector deposits moved up marginally by 0.1 percent MoM (+10.2 percent in 2022) for the month of November 2022. Looking at segment details, the semi-government institutions’ segment had a huge jump by 15.9 percent MoM (+28.1 percent in 2022).
However, the government institutions’ segment, which represents 60 percent of public sector deposits, declined by 3.1 percent MoM (+25.8 percent in 2022), while the government segment which represents 25 percent of public sector deposits edged lower by 0.1 percent MoM (-20.1 percent in 2022).
Non-resident deposits continued their sharp fall for the year and fell by 3.3 percent MoM (-33.3 percent in 2022) in November 2022.
