Commercial banks’ assets expand 2.9% year-on-year: Qatar

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The banks’ domestic assets shot up 3.39% year-on-year to QR1.63tn, while foreign assets were down 0.61% to QR241.33bn in the review period.

Commercial banks in Doha reported a 2.9% year-on-year growth in assets to QR1.87tn in July on the back of expansion in their domestic assets, according to the Qatar Central Bank (QCB) data. The banks’ domestic assets shot up 3.39% year-on-year to QR1.63tn, while foreign assets were down 0.61% to QR241.33bn in the review period.

Of the total QR1.87tn assets in July 2023, local currency assets amounted to QR959.16bn or 53.06% of the total and foreign currency assets at QR876.97bn or 46.94%.

The commercial banks’ total credit amounted to QR1.24tn in July 2023, which increased by 2.75% on an annualized basis. Their domestic credit was seen expanding 3.67% year-on-year to QR1.19tn; while overseas credit declined 13.18% to QR57.17bn in the review period.

Domestic assets in local currency amounted to QR985.37bn and foreign currency QR641.7bn; while in the case of foreign assets; local denomination was valued at QR6.05bn and foreign currency at QR235.27bn in July 2023. Total public sector credit was seen expanding 1.13% year-on-year to QR379.29bn with domestic credit growing by 1.02% to QR360.11bn and foreign credit by 3.28% to QR19.18bn in July 2023.

Total private sector credit showed a 4.3% year-on-year growth to QR855.72 with domestic credit expanding 5.61% to QR819.14bn; while foreign credit declined 18.38% to QR36.59bn at the end of July. The securities portfolio totaled QR272.45 in July 2023, growing by 9.86% year-on-year with the domestic securities portfolio expanding 6.73% to QR246.62bn and the overseas portfolio by 52.69% to QR25.82bn.

Within the securities portfolio, total debt shot up 15.96% year-on-year to QR166.1bn with domestic and foreign debts soaring 13.45% and 53.27% to QR152.29bn and QR13.81bn respectively in July.

Total sukuk amounted to QR99.46bn, which was up 1.02% year-on-year in July with foreign sukuk growing 94.39% to QR9.35bn. In the case of domestic sukuk, it fell 3.78% to QR90.11bn in the review period. Total claims on banks were up 3.34% year-on-year to QR161.29bn. Domestic claims shot up 38.16% to QR54.37bn; whereas foreign claims plummeted 20.42% to QR106.93bn.

The commercial banks’ cash and precious metals were valued at QR14.35bn in July compared to QR16.96bn in the previous year period. Investments in subsidiaries and associated stood at QR47.79bn with domestic investments at QR7.25bn and overseas investments at QR40.54bn.

The country’s commercial banking system showed QR42.29bn in other assets in July with domestic assets at QR32.17bn and foreign assets at QR10.12bn. The commercial banks’ net fixed assets amounted to QR8.33bn at the end of July 2023 compared to QR8.02bn in the comparable period of the previous year.

Their investments in real estate amounted to QR2.24bn with domestic portfolio at QR1.5bn and foreign portfolio at QR0.74bn in July. The commercial banks’ required reserve stood at QR53.96bn in July 2023 against QR48.03bn in the year-ago period.