Deposits at Qatar’s commercial banks jump 8% in June
August 30 2020 08:34 PM
Commercial banks
The domestic deposits of the commercial banks in Qatar grew about 8% to QR666.13bn, which is 76% of the total deposits; and overseas deposits were also up 8% to QR211.92bn at the end of June 30, 2020, the QCB said in its report.

The commercial banks in Doha saw about 8% year-on-year jump in total deposits to QR878.05bn in June this year, according to the Qatar Central Bank (QCB) data.

The domestic deposits of the commercial banks grew about 8% to QR666.13bn, which is 76% of the total deposits; and overseas deposits were also up 8% to QR211.92bn at the end of June 30, 2020, the QCB said in its report.

The domestic deposits constituted about 55% of the commercial banks’ liabilities at the end of June 2020.

The commercial banks' domestic private sector deposits grew 6% to QR375.65bn, which constituted 56% of the total domestic deposits; public sector deposits by 9% to QR274.51bn (41%) and those of non-banking finance companies by 43% to QR15.97bn (3%).

The commercial banks' private sector overseas deposits expanded more than 7% to QR170.77bn, which constituted 81% of total foreign deposits; public sector deposits by 3% to QR15.42bn (7%) and those of NBFCs by 14% to QR25.74bn (12%).

Within the domestic private sector, the commercial banks' savings and time deposits were up 4% to QR252.04bn, which is 67% of the total domestic private sector deposits; and current and call deposits by 11% to QR123.61bn or 33% of the total domestic private sector deposits.

The commercial banks' domestic public sector savings and time deposits witnessed about 6% fall to QR202.57bn, which constituted 74% of the total domestic public sector deposits; whereas the current and call deposits almost doubled to QR71.93bn or 26% of the total public sector domestic deposits.

Within the domestic deposits of NBFCs, the commercial banks' savings and time deposits and current and call deposits increased 45% and 41% to QR11.82bn and QR4.16bn respectively in June 2020.

Of the QR666.13bn domestic deposits of the commercial banks, those of the industry stood at QR37.46bn, trading (QR26.56bn), services (QR232.85bn), contractors (QR11.56bn), real estate (QR5.5bn), personal (QR216.28bn) and others (QR40.1bn).

The commercial banks’ domestic personal deposits expanded more than 13% with those of non-Qatari individuals soaring 20% to QR45.24bn and those of Qataris by 12% to QR171.05bn in June 2020.

Within the private sector overseas deposits, the commercial banks' savings and time deposits and the current and call deposits expanded 7% and 20% to QR167.51bn and QR3.26bn respectively.

Within the overseas public sector deposits, the commercial banks savings and time deposits were up 2% to QR15.34bn and the current and call deposits doubled to QR0.08bn in the review period.

In the case of NBFC overseas deposits, the commercial banks' saving and time deposits soared more than 13% to QR25.44bn; whereas the current and call deposits plummeted 83% to QR0.03bn at the end of June, 2020.




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