Qatar banks’ total deposits rose to QR670bn for the first quarter of 2019, up 4.5 percent compared to the previous quarter’s QR641bn. The banks’ total domestic credit rose by 3 percent to QR885bn against QR859bn reported in Q4, 2018.
Qatar Central Bank’s (QCB) quarterly data suggested Private sector credit stood at QR560bn in Q1, against QR541bn by the end of December 2018. Banks’ foreign assets increased to QR251bn from QR239bn, while foreign liabilities reached QR460bn from the previous quarter’s QR437bn. Real estate sector saw an increase of over QR5bn to QR155.8bn.
Commercial banks credit outside Qatar stood at QR80.9bn in Q1. The banks investments abroad is at QR59bn, as domestic credit reached QR885.9bn in Q1, compared to QR859.8bn in Q4, 2018. Domestic investments reached QR167bn, up from QR165bn.
The banks’ total assets reached QR1.45 trillion, a substantial increase from QR1.41 trillion. In the first quarter of 2018, the banks’ total assets were at QR1.39 trillion.
The size of debt securities of the banks increased to QR61.8bn in Q1, from the previous quarter’s QR51bn. Banks’ total provisions rose to QR22bn from QR20bn. Public sector credit increased to QR325bn from QR318bn.
The first quarter saw a huge jump in general trade finance, up QR98bn from QR83.9bn. Credit to contractors saw a slight dip to QR34.9bn from QR35.6bn
Real estate sector saw an increase of over QR5bn to QR155.8bn. The banks’ credit outside Qatar stood at QR80.9bn.
Meanwhile, reflecting the renewed strength of Qatar’s banking system, the Money Supplies M1 and M2 recorded a significant growth in the first quarter. While M1 rose 9 percent to QR130bn, M2 rose by 2.1 percent to QR576bn. M2 was up by 4.5 percent to QR682bn.
Qatar Central bank’s foreign assets rose to QR122bn from QR110bn. QCB’s total assets stood at QR234bn in March. Balance with the foreign banks jumped to QR58bn from the previous quarter’s QR49bn and QR45bn from Q1, 2018. The value of QCB’s foreign securities reached QR55.74bn from QR54.81bn in Q4. Balance with local banks decreased to QR66bn from QR80bn in Q4.
QCB’s international Reserves and foreign currency liquidity increased to QR183bn against the previous quarter’s QR179bn.
