Qatar’s banking sector witnessed exponential growth of 6.3 percent in commercial bank deposits, which registered QAR1.024 trillion ($276.7 billion) in April, according to the latest National Planning Council data.
Qatar’s public sector deposits in commercial banks reached QAR372.9 billion in April, up 0.9 percent monthly and 11.7 percent annually. Meanwhile, private sector deposits in Qatar’s commercial banks saw a 4 percent annual increase to QAR467.1 billion but declined 0.9 percent compared to March.
Non-resident deposits saw an annual increase of 1.9 percent and a monthly decline of 2.8 percent, recording QAR184.6 billion during the same month.
Credit facilities rise
In addition to the increase in deposits, Qatar’s commercial banks saw a 4.9 percent annual increase in credit facilities to QAR1.31 trillion.
In the public sector, credit facilities saw a 3.9 percent annual increase to QAR389.1 billion. However, they recorded a 1 percent decline compared to March. Meanwhile, the private sector’s credit facilities saw a 5.1 percent annual increase and a monthly decline of 0.4 percent to QAR867.2 billion. In April, Qatar’s non-resident credit facilities in commercial banks reached QAR63.5 billion.
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Money supply surges
Qatar’s money supply 1 (M1) reached QAR154.6 billion in April while money supply 2 (M2) saw a 5.7 percent annual increase to QAR735.9 billion. Meanwhile, money supply 3 (M3) saw a 7.2 percent annual increase to QAR855.3 billion in April.
In addition, the number of shares traded saw a 13.7 percent annual increase while the value of shares traded rose 26.7 percent year-on-year.
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