Qatar banking system witnessed non-resident deposits outpace the overall deposits growth this March, indicating the “upbeat” perceptions of foreign investors about the country’s financial system.
The commercial banks’ public sector deposits were seen on a weakening mode; while those of the private sector grew in the review period, according to the central bank data.
The total customer deposits of the commercial banks rose 5.8% year-on-year to QR945.18bn, constituting more than 54% of the commercial banks’ liabilities at the end of March 2021, said the Qatar Central Bank figures.
The total non-resident deposits of the commercial banks shot up 24.28% year-on-year to QR266.24bn or 28% of the total deposits; whereas total domestic deposits fell by a marginal 0.08% to QR678.94bn, which is 72% of the total deposits in the review period.
The total non-resident deposits of the commercial banks witnessed a 5.5% growth month-on-month in March this year.
“Non-resident capital inflows will remain high around $21bn in 2021, driven by loans to government related-entities and a significant increase in non-resident deposits," said a recent report of the US-based the Institute of International Finance.
Of the QR678.94bn domestic deposits of the commercial banks, those of the services stood at QR245.12bn or 36% of the total domestic deposits, followed by personal QR221.54bn (33%), government QR82.56bn (12%), industry QR43.42bn (6%), others QR37.03bn (5%), trading QR29.44bn (4%), contractors QR11.84bn (2%) and realty QR7.99bn (1%).
The overall decline in the domestic deposits was largely due to 10.53% decline in the deposits of industrials, 4.42% in services and 15.86% in other deposits; even as those of the real estate surged 62.07%, government (7.21%), personal (6.95%), trading (0.62%) and contracting (0.34%).
The commercial banks' private deposits expanded 9.24% on a yearly basis to QR595.14bn with domestic deposits growing 3.61% to QR384.38bn and foreign deposits by 21.25% to QR210.76bn in the review period.
The total deposits of the non-banking financial institutions soared 62.09% year-on-year to QR60.99bn with their domestic deposits expanding 18.18% to QR15.8bn and overseas deposits by 90.16% to QR45.2bn at the end of March 2021.
The commercial banks’ domestic personal deposits expanded 6.95% year-on-year with those of non-Qatari individuals soaring 16.43% to QR48.05bn and those of Qataris by 4.59% to QR173.48bn in March 2021.
The private sector's savings and time deposits grew 8.12% year-on-year to QR457.6bn and current and call deposits by 13.16% to QR137.55bn at the end of March 2021.
The savings and time deposits of the public sector were seen declining 9.31% year-on-year to QR238.18bn; whereas those of current and call deposits expanded 4.21% to QR50.87bn in March this year.
The savings and time deposits of the non-banking financial institutions shot up more than 69% to QR56.4bn and current and call deposits by about 18% to QR4.59bn in the review period.
The commercial banks’ public sector deposits were seen on a weakening mode; while those of the private sector grew in the review period, according to the central bank data.
The total customer deposits of the commercial banks rose 5.8% year-on-year to QR945.18bn, constituting more than 54% of the commercial banks’ liabilities at the end of March 2021, said the Qatar Central Bank figures.
The total non-resident deposits of the commercial banks shot up 24.28% year-on-year to QR266.24bn or 28% of the total deposits; whereas total domestic deposits fell by a marginal 0.08% to QR678.94bn, which is 72% of the total deposits in the review period.
The total non-resident deposits of the commercial banks witnessed a 5.5% growth month-on-month in March this year.
“Non-resident capital inflows will remain high around $21bn in 2021, driven by loans to government related-entities and a significant increase in non-resident deposits," said a recent report of the US-based the Institute of International Finance.
Of the QR678.94bn domestic deposits of the commercial banks, those of the services stood at QR245.12bn or 36% of the total domestic deposits, followed by personal QR221.54bn (33%), government QR82.56bn (12%), industry QR43.42bn (6%), others QR37.03bn (5%), trading QR29.44bn (4%), contractors QR11.84bn (2%) and realty QR7.99bn (1%).
The overall decline in the domestic deposits was largely due to 10.53% decline in the deposits of industrials, 4.42% in services and 15.86% in other deposits; even as those of the real estate surged 62.07%, government (7.21%), personal (6.95%), trading (0.62%) and contracting (0.34%).
The commercial banks' private deposits expanded 9.24% on a yearly basis to QR595.14bn with domestic deposits growing 3.61% to QR384.38bn and foreign deposits by 21.25% to QR210.76bn in the review period.
The total deposits of the non-banking financial institutions soared 62.09% year-on-year to QR60.99bn with their domestic deposits expanding 18.18% to QR15.8bn and overseas deposits by 90.16% to QR45.2bn at the end of March 2021.
The commercial banks’ domestic personal deposits expanded 6.95% year-on-year with those of non-Qatari individuals soaring 16.43% to QR48.05bn and those of Qataris by 4.59% to QR173.48bn in March 2021.
The private sector's savings and time deposits grew 8.12% year-on-year to QR457.6bn and current and call deposits by 13.16% to QR137.55bn at the end of March 2021.
The savings and time deposits of the public sector were seen declining 9.31% year-on-year to QR238.18bn; whereas those of current and call deposits expanded 4.21% to QR50.87bn in March this year.
The savings and time deposits of the non-banking financial institutions shot up more than 69% to QR56.4bn and current and call deposits by about 18% to QR4.59bn in the review period.