Qatar banking sector total assets increase 0.8% MoM to QR1.832tn in March: QNBFS

Qatari banking sector's total assets increased by 0.8% month-on-month MoM (+0.3% in 2022) in March to reach QR1.832tn, QNB Financial Services has said in a report. Total loan book increased by 0.4% MoM (-0.1% in 2022) to reach QR1,215.5bn and deposits went up by 0.3% MoM (-0.7% in 2022) to reach QR967.7bn in March. The private and public sector pushed the credit higher (up 0.4% and 0.6% respectively MoM in March). As deposits went up by 0.3% in March, the LDR went slightly up to 125.6% vs. 125.5% in February, QNBFS said. Public sector deposits went up by 4.2% MoM (+0.9% in 2022) in March resulting in the overall gain in deposits. Looking at segment details, the government segment (represents nearly 33% of public sector deposits) increased by 12.0% MoM (-5.4% in 2022), while the semi-government institutions’ segment moved up by 4.9% MoM (+2.9% in 2022). However, the government institutions’ segment (represents nearly 54% of public sector deposits) declined marginally by 0.1% MoM (+4.6% in 2022). Private sector deposits moved down by 0.2% MoM (+3.2% in 2022). On the private sector front, the companies and institutions’ segment went down by 0.8% MoM (+3.0% in 2022) and the consumer segment went up by 0.3% MoM (+3.4% in 2022). Non-resident deposits declined by 2.9% MoM (-7.9% in 2022). The overall loan book moved higher by 0.4% in March. Total Private sector loans moved up by 0.4% MoM (+1.2% in 2022) in March 2022. Consumption and others segment and the general trade segment mainly contributed toward the private sector loan growth in March. Consumption and others segment (contributes nearly 21% to private sector loans) increased by 1.3% MoM (+2% in 2022). General trade (contributes nearly 21% to private sector loans) went up by 0.6% MoM (+1.8% in 2022). Services (contributes nearly 28% to private sector loans) moved up by 0.2% MoM (+1.6% in 2022). However, real estate (contributes nearly 21% to private sector loans) edged down marginally by 0.1% MoM (+0.1% in 2022) in March. Domestic public sector loans went up by 0.6% MoM (-2.2% in 2022). The government segment’s (represents nearly 35% of public sector loans) loan book increased by 1.4% MoM (-7.7% in 2022), while the semi-government institutions’ segment moved up by 6.3% MoM (+8.7% in 2022). However, the government institutions’ segment (represents nearly 59% of public sector loans) declined slightly by 0.4% MoM (+0.4% in 2022) during March, QNBFS said. The public sector contributed largely to the increase in deposits as government deposits increased by 12% during March, QNBFS noted. Both the private and public sector contributed to the increase in overall loans. Private sector consumption and others increased by 1.3% and general trade by 0.6%, while in the public sector, both government loans and semi-government loans increased by 1.4% and 6.3% respectively, an analyst said.