Qatar’s commercial banks have seen an uptick in both loans and deposits in February, QNB Financial Services (QNBFS) said in a report.
Loans went up by 0.8% to reach QR1,156.2bn, while deposits moved up by 1.3% last month to reach QR912.4bn.
Loans to deposits ratio went down during the month to 126.7% in February, QNBFS’ Qatar Monthly Key Banking Indicators show.
Deposits with commercial banks in Qatar increased by 1.3% during February to reach QR912.4bn, driven by non-resident deposits, QNB Financial Services (QNBFS) said.
Deposits growth in February was mainly due to an increase in non-resident deposits by 4.5%
Deposits grew by 0.8% YTD for 2021, compared to a growth of 6.6% in 2020. Deposits grew by an average 7% over the past five years (2016-2020), QNBFS said.
On the private sector front, the consumer segment posted a gain of 1.3% month-on-month (MoM) and (up 3.2% YTD) while the companies and institutions’ segment declined by 0.9% MoM (-0.5% YTD 2021).
Public sector deposits declined by 0.3% MoM (-2.1% YTD 2021) for the month of February 2021, QNBFS said.
Looking at segment details, the government institutions’ segment (represents ~58% of public sector deposits) went up by 0.2% MoM (-3.5% YTD 2021).
Moreover, the semi-government institutions’ segment posted a growth of 1.7% MoM (-12.0% YTD 2021). The government segment decreased by 1.8% MoM (up 5.2% YTD).
The overall loan book went up by 0.8% in February during February to reach QR1,156.2bn, QNBFS said.
Loans increase in February was mainly due to a rise of 2% from the public sector.
Loans grew by 2.4 % YTD for 2021, compared to a growth of 8.6 % in 2020. Loans grew by an average 8.5 % over the past five years (2016 - 2020), QNBFS said.
Total domestic public sector loans increased by 2% MoM (up 6.9% YTD). The government segment’s loan book went up by 5.1% MoM (+15.9% YTD 2021).
However, the government institutions’ segment (represents nearly 53% of public sector loans) declined by 0.1% MoM (+1.3% YTD), while the semi-government institutions’ segment moved down by 0.6% MoM (-0.6% YTD).
Private sector loans gained by 0.3% MoM and are up 0.6% YTD, QNBFS said. Real estate followed by consumption and others positively contributed toward the loan growth.
On the other hand, the services sector pulled credit growth down in February.
Real Estate (contributes ~23% to private sector loans) increased by 1.2% MoM. Consumption and others (also contributes ~23% to private sector loans) increased by 1.0% MoM (+0.9% YTD).
General trade (contributes nearly 21% to private sector loans) increased by 0.1% MoM.
However, the services segment (contributes nearly 26% to private sector loans) declined by 0.8% MoM (-2.3% YTD). Finally, the industry segment went up by 0.3%.
On Net Interbank Position, QNBFS noted it was at a negative QR227bn in February.
Due from banks totalled QR146.8 bn while due to banks totalled QR374.3bn in February.
Due to banks abroad reached a high of QR319.8 bn in January, QNBFS said.
Loans to deposits ratio went down during the month to 126.7% in February, QNBFS’ Qatar Monthly Key Banking Indicators show.
Deposits with commercial banks in Qatar increased by 1.3% during February to reach QR912.4bn, driven by non-resident deposits, QNB Financial Services (QNBFS) said.
Deposits growth in February was mainly due to an increase in non-resident deposits by 4.5%
Deposits grew by 0.8% YTD for 2021, compared to a growth of 6.6% in 2020. Deposits grew by an average 7% over the past five years (2016-2020), QNBFS said.
On the private sector front, the consumer segment posted a gain of 1.3% month-on-month (MoM) and (up 3.2% YTD) while the companies and institutions’ segment declined by 0.9% MoM (-0.5% YTD 2021).
Public sector deposits declined by 0.3% MoM (-2.1% YTD 2021) for the month of February 2021, QNBFS said.
Looking at segment details, the government institutions’ segment (represents ~58% of public sector deposits) went up by 0.2% MoM (-3.5% YTD 2021).
Moreover, the semi-government institutions’ segment posted a growth of 1.7% MoM (-12.0% YTD 2021). The government segment decreased by 1.8% MoM (up 5.2% YTD).
The overall loan book went up by 0.8% in February during February to reach QR1,156.2bn, QNBFS said.
Loans increase in February was mainly due to a rise of 2% from the public sector.
Loans grew by 2.4 % YTD for 2021, compared to a growth of 8.6 % in 2020. Loans grew by an average 8.5 % over the past five years (2016 - 2020), QNBFS said.
Total domestic public sector loans increased by 2% MoM (up 6.9% YTD). The government segment’s loan book went up by 5.1% MoM (+15.9% YTD 2021).
However, the government institutions’ segment (represents nearly 53% of public sector loans) declined by 0.1% MoM (+1.3% YTD), while the semi-government institutions’ segment moved down by 0.6% MoM (-0.6% YTD).
Private sector loans gained by 0.3% MoM and are up 0.6% YTD, QNBFS said. Real estate followed by consumption and others positively contributed toward the loan growth.
On the other hand, the services sector pulled credit growth down in February.
Real Estate (contributes ~23% to private sector loans) increased by 1.2% MoM. Consumption and others (also contributes ~23% to private sector loans) increased by 1.0% MoM (+0.9% YTD).
General trade (contributes nearly 21% to private sector loans) increased by 0.1% MoM.
However, the services segment (contributes nearly 26% to private sector loans) declined by 0.8% MoM (-2.3% YTD). Finally, the industry segment went up by 0.3%.
On Net Interbank Position, QNBFS noted it was at a negative QR227bn in February.
Due from banks totalled QR146.8 bn while due to banks totalled QR374.3bn in February.
Due to banks abroad reached a high of QR319.8 bn in January, QNBFS said.
