Qatar banks see growth in asset base; costs remain region’s lowest: KPMG

Omar Mahmood, partner at KPMG in Qatar.

Banks in Qatar have seen a growth in their asset base, driven by the need to continue to support the country's future ambitions, KPMG said in its latest report on ‘GCC listed banks results 2020’. Qatar banks' costs continue to remain the lowest in the region, which reflects the relentless focus on efficiencies to help counter the impact of increased provisioning, it said. Despite the financial uncertainty arising from Covid-19, Qatar's listed banks recorded the lowest profit decline amongst its regional peers, KPMG said. “Increased loan provisioning as a result of liquidity and credit challenges being faced by borrowers reflected the more cautious approach taken by banks. This impact was partially offset by higher interest spreads and lower costs,” KPMG said.