Qatar commercial banks' domestic credit jumps 11.21% to QR1.11tn in April

Qatar's commercial banks' local currency credit to semi-government entities and the government sector as well as the foreign currency credit to the real estate sector were seen considerably outpacing the overall domestic credit expansion year-on-year this April, according the central bank data.The foreign currency credit to government institutions, semi-government institutions, general services and industrials was seen higher than that in local currency terms in absolute value in the review period, said the data of the Qatar Central Bank.The commercial banks' domestic credit was seen expanding 11.21% year-on-year to QR1.11tn in April this year.The credit to the government sector in local and foreign currency was QR123.23bn and QR46.53bn, expanding robustly 91.33% and 4.26% respectively in the review period.The credit to semi-government institutions in local and foreign currency registered a sharp 47.22% and 16.59% expansion year-on-year to QR4.13bn and QR11.33bn respectively.The credit to the private sector corporates in local and foreign currency denomination was seen growing 5.83% and 2.8% to QR258.92bn and QR192.83bn respectively in April 2021.The credit to the government institutions in local currency denomination was declined by a marginal 0.32% year-on-year to QR73.97bn; while those in foreign currency was seen gaining 8.39% to QR132.84bn in the review period.In segment-wise performance, the services saw 12.14% and 4.37% expansion in local and foreign currency denomination to QR118.44bn and QR219.61bn respectively in April 2021.Within services, the credit to general services in local and foreign currency denomination was seen expanding 13.49% and 4.67% to QR89.36bn and QR211.66bn respectively this April.The credit to financial services in local currency expanded 8.18% year-on-year to QR29.08bn; whereas that in foreign currency was seen declining 3.05% to QR7.95bn in April this year.The credit to the realty sector in foreign currency denomination saw a substantial 51.98% year-on-year surge to QR32.98bn, whereas that in the local currency declined by a marginal 1.13% to QR173.88bn in the review period.The consumption loans in local currency term saw 13% year-on-year to QR153.19bn, while that in foreign currency was down 4.21% to QR3.87bn in April 2021.The credit to Qataris in local currency terms showed a 17.57% year-on-year growth to QR142.45bn, whereas that in foreign currency eased 4.22% to QR3.86bn in the review period.In the case of non-Qataris, the credit in terms of local currency witnessed a 25.4% yearly decline to QR10.75bn; whereas that in foreign currency denomination was flat at QR0.01bn in April 2021.The credit to trading segment in local and foreign currency was up 1.35% and 3.09% to QR80.79bn and QR79.08bn respectively this April.The credit to the industrial segment in local currency registered a sharp 42% surge year-on-year to QR7.37bn; whereas that in foreign currency shrank 17.01% to QR18.44bn in April this year.