The credit extension to services, contracting and industrials expanded faster than the overall domestic loan growth year-on-year during November, according to the Qatar Central Bank (QCB).
Total domestic credit grew 8.83% year-on-year to QR1.14tn at the end of November, 2021.
The commercial banks’ credit to the services sector saw an 18.83% yearly expansion to QR374.05bn, which constituted 33% of the total domestic loans during November, 2021.
The credit to the general services witnessed a 15.26% year-on-year jump to QR336.33bn, which was 90% of the total credit to the services sector.
Within the general services, credit to air transport was QR101.09bn, real estate QR91.15bn, hotels QR34.89bn, engineering QR25.84bn, land transport QR22.69bn, petroleum QR9.52bn, tourism QR7.7bn, health and pharmaceutical QR7.58bn and entertainment QR4.73bn at the end of November, 2021.
In the case of financial services, it registered a 2.53% year-on-year surge to QR37.72bn at the end of November 2021 with large chunk directed towards investment companies (QR29.42bn), investment funds (QR6.46bn) and insurance (QR1.42bn).
The contracting sector witnessed a 13.15% year-on-year jump in credit to QR42.42bn or about 4% of the total domestic loans in the review period. A total of QR26.08bn went for the buildings, QR9.58bn for the non-specified segment, QR2.35bn for roads, and QR2.07bn for maintenance and QR1.94bn for electrical.
The credit to the industrials sector witnessed a yearly 11.67% year-on-year growth to QR27.36bn, which was 2% of the total domestic credit in the period in review.
Within the sector, credit to the heavy industry amounted to QR12.13bn, natural gas QR7.01bn, industrial manufacturing QR5.78bn and oil QR2.45bn at the end of November, 2021.
The strong credit pick up, especially in the heavy industries, indicates the resilience of the non-oil private sector. It also hints at the fruition of the country’s diversification strategies.
The banks' credit to the trading sector witnessed an 11% year-on-year expansion to QR177bn or 15% of the total domestic loans in November, 2021.
Within the trading sector, as much as QR66.24bn went to the commercial agencies, QR23.82bn to non-specified, QR12.92bn to chemicals and allied products, QR12.9bn to food, QR12.2bn to machinery and equipment, QR10.7bn to automobiles and spare parts and QR10.13bn to petroleum products.
The credit to the real estate was up 6.33% year-on-year to QR217.74bn, which was 19% of the total domestic credit in November 2021. As much as QR85.08bn went to the developers, QR69.16bn for commercial housing and QR25.35bn for the private housing.
The consumption credit increased 7.85% year-on-year to QR158.78bn, constituting 14% of the total domestic credit in November, 2021.
The consumption credit to nationals amounted to QR146.7bn, of which as much as QR82.71bn was personal loans, QR62.96bn unspecified and auto loans to the tune of QR1.03bn.
The consumption credit to non-Qataris stood at QR12.07bn in the review period with personal loans constituting QR8.99bn, unspecified QR2.88bn and auto loans of QR0.2bn.
The credit to the government registered a 4% annual expansion to QR143.14bn, which was 13% of the total domestic credit in November last year.
Total domestic credit grew 8.83% year-on-year to QR1.14tn at the end of November, 2021.
The commercial banks’ credit to the services sector saw an 18.83% yearly expansion to QR374.05bn, which constituted 33% of the total domestic loans during November, 2021.
The credit to the general services witnessed a 15.26% year-on-year jump to QR336.33bn, which was 90% of the total credit to the services sector.
Within the general services, credit to air transport was QR101.09bn, real estate QR91.15bn, hotels QR34.89bn, engineering QR25.84bn, land transport QR22.69bn, petroleum QR9.52bn, tourism QR7.7bn, health and pharmaceutical QR7.58bn and entertainment QR4.73bn at the end of November, 2021.
In the case of financial services, it registered a 2.53% year-on-year surge to QR37.72bn at the end of November 2021 with large chunk directed towards investment companies (QR29.42bn), investment funds (QR6.46bn) and insurance (QR1.42bn).
The contracting sector witnessed a 13.15% year-on-year jump in credit to QR42.42bn or about 4% of the total domestic loans in the review period. A total of QR26.08bn went for the buildings, QR9.58bn for the non-specified segment, QR2.35bn for roads, and QR2.07bn for maintenance and QR1.94bn for electrical.
The credit to the industrials sector witnessed a yearly 11.67% year-on-year growth to QR27.36bn, which was 2% of the total domestic credit in the period in review.
Within the sector, credit to the heavy industry amounted to QR12.13bn, natural gas QR7.01bn, industrial manufacturing QR5.78bn and oil QR2.45bn at the end of November, 2021.
The strong credit pick up, especially in the heavy industries, indicates the resilience of the non-oil private sector. It also hints at the fruition of the country’s diversification strategies.
The banks' credit to the trading sector witnessed an 11% year-on-year expansion to QR177bn or 15% of the total domestic loans in November, 2021.
Within the trading sector, as much as QR66.24bn went to the commercial agencies, QR23.82bn to non-specified, QR12.92bn to chemicals and allied products, QR12.9bn to food, QR12.2bn to machinery and equipment, QR10.7bn to automobiles and spare parts and QR10.13bn to petroleum products.
The credit to the real estate was up 6.33% year-on-year to QR217.74bn, which was 19% of the total domestic credit in November 2021. As much as QR85.08bn went to the developers, QR69.16bn for commercial housing and QR25.35bn for the private housing.
The consumption credit increased 7.85% year-on-year to QR158.78bn, constituting 14% of the total domestic credit in November, 2021.
The consumption credit to nationals amounted to QR146.7bn, of which as much as QR82.71bn was personal loans, QR62.96bn unspecified and auto loans to the tune of QR1.03bn.
The consumption credit to non-Qataris stood at QR12.07bn in the review period with personal loans constituting QR8.99bn, unspecified QR2.88bn and auto loans of QR0.2bn.
The credit to the government registered a 4% annual expansion to QR143.14bn, which was 13% of the total domestic credit in November last year.