Total assets of commercial banks in Qatar registered about 6% year-on-year increase to QR1.43tn at the end of May this year, according to the central bank figures.
Of the total assets, about 67% was credit portfolio that amounted to QR955.73bn, which witnessed about 6% growth year-on-year in May 2019, said the Qatar Central Bank figures.
Much of the credit went to the private sector, which accounted for about 66% of the total, or QR633.26bn in May this year. The credit to the private sector grew more than 14% on a yearly basis.
The higher growth in credit to the private sector shows the resiliency in the overall economy especially outside the hydrocarbons, even amidst the economic blockade, market sources said.
The fast infrastructure development has been offering abundant opportunities to the private sector, whose credit needs have also been increasing, industry sources said, adding but there have also been some "teething" issues, especially when it trickles down to the sub-contracting segment.
The credit to the public sector stood at QR307.7bn, or about 32% of the total credit in May 2019. The credit to the public sector however witnessed more than 7% decline rear-on-year.
Of the QR1.43tn assets, as much as QR1.2tn, or about 84%, was domestic assets and the remaining QR0.22tn, or 16%, was overseas in May 2018.
The second largest component within the commercial banks' assets is securities portfolio, which stood at QR178.39bn, or about 13%, of the total in the review period. The securities portfolio had however seen more than 2% dip on a yearly basis.
Of the total QR178.39bn securities portfolio, conventional debt amounted to QR104.36bn, which registered more than 8% fall; and sukuk at QR70.01bn, which showed about 9% increase year-on-year in May 2019.
The claims on banks stood at QR132.38bn in May this year compared to QR120.94bn in the corresponding period of the previous year.
The claims on central bank amounted to QR66.45bn with required reserves at QR36.54bn at the end of May 2019 against QR51.66bn and QR36.18bn respectively in the same period of 2018.
The investments in subsidiaries and associates amounted to QR45.82bn in May 2019 compared to QR46.01bn in the previous year period.
The other assets amounted to QR28.12bn in May this year against QR21.92bn in the previous year period, thus showing a more than 28% expansion year-on-year.
The banks’ net fixed assets reported a more than 5% growth year-on-year to QR6.91bn at the end of May 2019.