Qatari banks (commercial) have seen an upswing in total assets in 2024, by QR77.4bn or 3.9% to reach QR2.047tn, compared to QR1.969tn in 2023, according to QNB Financial Services.
Total assets rise in December 2024 was mainly due to an increase by 5.2% in foreign assets, QNBFS said in its latest ‘Qatar Monthly Banking Sector Update’.
Assets grew by an average 5.7% over the past five years (2020-2024).
Qatari banking sector's liquid assets to total assets moved up to 31.3% in December 2024, compared to 29.8% in November 2024, which “currently remains in a healthy position”, QNBFS noted.
The overall loan book contracted by 1.3% in December 2024, to QR1,346.8bn, mainly due to a slide (by 2.3%) in the public sector and (by 0.9%) in the private sector.
Loans went up by 4.6% in 2024, compared to a growth of 2.5% in 2023. Loans grew by an average 5.4% over the past five years (2020-2024), QNBFS noted.
Loan provisions to gross loans moved lower to 3.9% in December 2024, compared to 4.2% in November 2024.
Loan provisions have increased from 2.3% in 2019 to 4.0% in 2023 and 3.9% in 2024 as banks have been provisioning for Stage 2 and Stage 3 loans mainly emanating from contracting and real estate sectors.
Deposits went down by 1.5% during December 2024 to QR1,026.7bn. The deposits fall in December 2024 was mainly due to a dip (by 3.4%) in public sector deposits
In 2024, deposits increased 4.1%, compared to a decline (by 1.3%) in 2023. Deposits grew by an average 3.9% over the past five years (2020-2024), QNBFS said.
An analyst told Gulf Times Wednesday that the key highlight for the 2024 was the “upswing” in total assets by QR77.4bn or 3.9% in 2024 to reach QR2.047tn compared to QR1.969tn in 2023.
The total assets rise in 2024 was mainly pushed up by a QR51.2bn or 4.2% growth in domestic credit and a QR23.0bn or 8.7% gain in domestic investments.
The analyst noted that the 2024 increase by 4.6% in the overall loan book came from both the private sector and the public sector, mainly from a pickup in the real estate, services and government institutions segments by 9.0%, 5.6% and 7.7% respectively.
“Overall deposits witnessed a return to a growth of 4.1% in 2024, after declining by 1.3% in 2023. The government segment was the main contributor to the overall deposits gain, with a surge by 25.5% in 2024, followed by the personal (consumer) segment with an increase by 7.2%,” the analyst said.
Qatari banks (commercial) have seen an upswing in total assets in 2024, by QR77.4bn or 3.9% to reach QR2.047tn, compared to QR1.969tn in 2023, according to QNB Financial Services.
