The local currency time and savings (T&S) deposits of the public sector has considerably outpaced the total deposits expansion in Qatar’s banking industry during November 2019, according to the central bank data.
The public sector T&S deposits’ growth was mainly on account of the local currency (T&S) deposits of the sovereign and government institutions during the review period, according to figures released by the Qatar Central Bank.
Total (public, private and non-resident) deposits in the country’s commercial banks otherwise witnessed an about 5% year-on-year rise to QR830.46bn during November.
The public sector’s total deposits shrank 4% year-on-year to QR260.2bn, mainly dragged by foreign currency T&S deposits during the review period.
The public sector’s local currency T&S deposits soared 67% year-on-year to QR141.57bn, which constituted more than 54% of the total deposits of the public sector during November 2019.
The local currency T&S deposits of government institutions almost doubled year-on-year to QR75.03bn and those of the sovereign shot up 65% to QR51.16bn; while those of the semi-government institutions fell 5% to QR15.37bn during the review period.
On the other hand, the local currency demand deposits of public sector were down by a marginal 0.35% to QR28.17bn in the review period. Such deposits of sovereign and semi-government institutions declined 23% and 36% year-on-year to QR5bn and QR2.22bn respectively; whereas those of government institutions were seen gaining 14% to QR20.95bn during November 2019.
The public sector foreign currency demand deposits registered an impressive 71% year-on-year surge to QR18.33bn; whereas foreign currency T&S deposits plummeted 51% to QR72.13bn during the review period.
The foreign currency deposits of the sovereign reported 51% decline year-on-year to QR20.02bn, those of government institutions by 43% to QR61.36bn and those of semi-government institutions by 19% to QR9.07bn during November last year.
In the case of private sector deposits, there was an overall 3% year-on-year gain to QR367.72bn during the review period. The private sector demand and T&S deposits in local currency grew 5% and 6% year-on-year to QR92.77bn and QR196.51bn respectively.
The local currency personal demand and T&S deposits increased 6% and 14% year-on-year to QR50.95bn and QR125.4bn respectively. The companies and institutions’ local currency grew 4% to QR41.82bn, while those of T&S deposits were down 7% to QR71.11bn during the period in review.
The foreign currency demand deposits of the private sector soared 68% year-on-year to QR19.24bn; whereas those of T&S deposits declined 17% to QR59.19bn during November 2019.
The foreign currency personal deposits witnessed 5% annual growth to QR22.04bn; whereas those of companies and institutions shrank 9% to QR56.39bn during the view period.
Total (public, private and non-resident) deposits in the country’s commercial banks otherwise witnessed an about 5% year-on-year rise to QR830.46bn during November.
The public sector’s total deposits shrank 4% year-on-year to QR260.2bn, mainly dragged by foreign currency T&S deposits during the review period.
The public sector’s local currency T&S deposits soared 67% year-on-year to QR141.57bn, which constituted more than 54% of the total deposits of the public sector during November 2019.
The local currency T&S deposits of government institutions almost doubled year-on-year to QR75.03bn and those of the sovereign shot up 65% to QR51.16bn; while those of the semi-government institutions fell 5% to QR15.37bn during the review period.
On the other hand, the local currency demand deposits of public sector were down by a marginal 0.35% to QR28.17bn in the review period. Such deposits of sovereign and semi-government institutions declined 23% and 36% year-on-year to QR5bn and QR2.22bn respectively; whereas those of government institutions were seen gaining 14% to QR20.95bn during November 2019.
The public sector foreign currency demand deposits registered an impressive 71% year-on-year surge to QR18.33bn; whereas foreign currency T&S deposits plummeted 51% to QR72.13bn during the review period.
The foreign currency deposits of the sovereign reported 51% decline year-on-year to QR20.02bn, those of government institutions by 43% to QR61.36bn and those of semi-government institutions by 19% to QR9.07bn during November last year.
In the case of private sector deposits, there was an overall 3% year-on-year gain to QR367.72bn during the review period. The private sector demand and T&S deposits in local currency grew 5% and 6% year-on-year to QR92.77bn and QR196.51bn respectively.
The local currency personal demand and T&S deposits increased 6% and 14% year-on-year to QR50.95bn and QR125.4bn respectively. The companies and institutions’ local currency grew 4% to QR41.82bn, while those of T&S deposits were down 7% to QR71.11bn during the period in review.
The foreign currency demand deposits of the private sector soared 68% year-on-year to QR19.24bn; whereas those of T&S deposits declined 17% to QR59.19bn during November 2019.
The foreign currency personal deposits witnessed 5% annual growth to QR22.04bn; whereas those of companies and institutions shrank 9% to QR56.39bn during the view period.
