The non-resident deposits with the Islamic banks were seen growing much faster (year-on-year) compared with the conventional lenders in July 2021, according to Qatar Central Bank (QCB) data.
Moreover, the overall non-resident deposits expanded faster than the total as well as private and public sector deposits of the commercial banks in the review period.
The non-resident deposits soared 29.56% year-on-year to QR274.56bn in July this year. Those with Qatari lenders amounted to QR273.32bn, showing a 29.73% growth year-on-year, and those with non-Qatari banks were up by a marginal 0.81% to QR1.24bn in July this year.
Within the local lenders, non-resident deposits with traditional banks were seen gaining 21.57% year-on-year to QR219.71bn and those with the Shariah-compliant entities shot up 79.07% to QR53.61bn in the review period.
Within the non-Qatari lenders, non-resident deposits with Arab banks were seen growing 40% to QR0.28bn; whereas those with non-Arab banks shrank 6.8% to QR0.96bn in July 2021.
“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," the US-based the Institute of International Finance had said in a report.
Otherwise, the commercial banks’ total deposits were up 8.6% year-on-year to QR953.58bn in the period in review.
Private sector deposits with all the banks were seen growing by 1.1% year-on-year to QR395.93bn in July 2021, while private sector deposits in Qatari banks expanded by 1% to QR376.58bn and foreign banks by 3.09% to QR19.35bn in July 2021.
The robust growth in the private sector deposits within the domestic Islamic banks was to a great extend contained by decline in such deposits with the domestic traditional lenders in the review period.
Within conventional lenders, the private sector deposits of the Islamic banks soared 9.71% to QR164.35bn; whereas those with the traditional lenders declined 4.85% to QR212.22bn in July 2021.
Within foreign banks, the private sector deposits of the Arab lenders shrank 8.59% year-on-year to QR5.1bn; while those in the non-Arab lenders shot up 5.63% to QR14.25bn in July 2021.
The public sector deposits with all the banks grew 3.13% year-on-year to QR283.09bn in July 2021. The public sector deposits with the Qatari banks were seen growing 3.42% year-on-year to QR282.49bn; while those with the foreign lenders plummeted 55.56% to QR0.6bn in the review period.
Within the Qatari banks, the public sector deposits with the conventional lenders shrank 4.66% year-on-year to QR192.46bn; whereas those with the Islamic banks gained 18.21% to QR83.04bn in July 2021.
Within foreign banks, the public sector deposits within both Arab and non-Arab lenders tanked 71.43% and 38.46% to QR0.2bn and QR0.4bn respectively.
Moreover, the overall non-resident deposits expanded faster than the total as well as private and public sector deposits of the commercial banks in the review period.
The non-resident deposits soared 29.56% year-on-year to QR274.56bn in July this year. Those with Qatari lenders amounted to QR273.32bn, showing a 29.73% growth year-on-year, and those with non-Qatari banks were up by a marginal 0.81% to QR1.24bn in July this year.
Within the local lenders, non-resident deposits with traditional banks were seen gaining 21.57% year-on-year to QR219.71bn and those with the Shariah-compliant entities shot up 79.07% to QR53.61bn in the review period.
Within the non-Qatari lenders, non-resident deposits with Arab banks were seen growing 40% to QR0.28bn; whereas those with non-Arab banks shrank 6.8% to QR0.96bn in July 2021.
“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," the US-based the Institute of International Finance had said in a report.
Otherwise, the commercial banks’ total deposits were up 8.6% year-on-year to QR953.58bn in the period in review.
Private sector deposits with all the banks were seen growing by 1.1% year-on-year to QR395.93bn in July 2021, while private sector deposits in Qatari banks expanded by 1% to QR376.58bn and foreign banks by 3.09% to QR19.35bn in July 2021.
The robust growth in the private sector deposits within the domestic Islamic banks was to a great extend contained by decline in such deposits with the domestic traditional lenders in the review period.
Within conventional lenders, the private sector deposits of the Islamic banks soared 9.71% to QR164.35bn; whereas those with the traditional lenders declined 4.85% to QR212.22bn in July 2021.
Within foreign banks, the private sector deposits of the Arab lenders shrank 8.59% year-on-year to QR5.1bn; while those in the non-Arab lenders shot up 5.63% to QR14.25bn in July 2021.
The public sector deposits with all the banks grew 3.13% year-on-year to QR283.09bn in July 2021. The public sector deposits with the Qatari banks were seen growing 3.42% year-on-year to QR282.49bn; while those with the foreign lenders plummeted 55.56% to QR0.6bn in the review period.
Within the Qatari banks, the public sector deposits with the conventional lenders shrank 4.66% year-on-year to QR192.46bn; whereas those with the Islamic banks gained 18.21% to QR83.04bn in July 2021.
Within foreign banks, the public sector deposits within both Arab and non-Arab lenders tanked 71.43% and 38.46% to QR0.2bn and QR0.4bn respectively.