Qatar banking sector total assets scale up to QR1.818tn in February: QNBFS

Qatar banking sector total assets scale up to QR1.818tn in February: QNBFS

Qatar’s banking sector total assets increased by 0.9% month-on-month (MoM) to reach QR1.818tn in February, QNB Financial Services (QNBFS) has said in a report.

The sector's loan book declined (by 0.2%) to QR1,210.8bn during February.

The loans decline in February was mainly due to a drop by 1.5% from the public sector, QNBFS noted yesterday.

Loans have so far declined by 0.5% in 2022, compared to a growth of 7.8% in 2021; the grew by an average 7.6% over the past five years (2017-2021).

Deposits increased by 0.4% during February to reach QR964.5bn.

The loans-to-deposits ratio went down during the month to 125.5%.

Deposits growth in February was mainly due to a 2.7% increase in private sector deposits. Deposits have so far gone down by 1% in 2022, compared to a growth of 7 .6% in 2021.

Deposits grew by an average 6.1% over the past five years (2017-2021), QNBFS said.

As deposits went up by 0.4% in February, the loan-to-deposit ratio (LDR) went down to 125.5% vs. 126.4% in January 2022.

Private sector deposits went up by 2.7% MoM (+3.5% in 2022) in February resulting in the overall gain in deposits.

On the private sector front, the companies and institutions’ segment increased by