Doha, Qatar: Qatar banking sector total assets increased 1.0% MoM (up 1.8% in 2023) in October 2023 to reach QR1.939 trillion and total loan book went up 1.5% MoM (up 1.6% in 2023) and deposits moved up 2.7% MoM (-2.0% in 2023) in the month of October of this year.

Both the public sector and private sector pushed the overall credit higher. As deposits rose in October, the LDR declined to 130.3% vs. 131.8% in September 2023.

The overall loan book gained 1.5% in October 2023. Total public sector loans was higher by 3.1% MoM (-1.6% in 2023). The government segment (represents ~29% of public sector loans) was the main growth driver for the public sector with a surge by 11.2% MoM (-6.8% in 2023). The government institutions’ segment (represents ~64% of public sector loans) edged up 0.1% MoM (-1.6% in 2023). However, the semi-government institutions’ segment moved lower by 1.1% MoM (+31.0% in 2023).

Total private sector loans moved up 0.8% MoM (+3.3% in 2023) in October. The services segment was the main driver for the private sector loan rise. Services (contributes ~31% to private sector loans) increased 2.5% MoM (+9.1% in 2023), while general trade (contributes ~21% to private sector loans) moved up by 0.7% MoM (+5.8% in 2023) and consumption & others (contributes ~21% to private sector loans) was marginally up MoM (+5.4% in 2023). However, the real estate segment (contributes ~21% to private sector loans) declined 0.3% MoM (-5.5% in 2023) in October 2023. Outside Qatar loans moved up by 2.1% MoM (-2.9% in 2023) during the month of October.

Private sector deposits moved higher by 2.7% MoM (+2.8% in 2023) in October 2023. On the private sector front, the companies & institutions’ segment gained significantly by 6.1% MoM (-1.4% in 2023). However, the consumer segment edged down by 0.2% MoM (+7.0% in 2023) during October.

Public sector deposits gained 3.5% MoM (-5.8% in 2023) for the month of October 2023. Looking at segment details, the government segment (represents ~28% of public sector deposits) increased by 5.4% MoM (-14.2% in 2023), while the semi-government institutions’ segment rose 9.3% MoM (+11.1% in 2023). The government institutions’ segment (represents ~56% of public sector deposits) went up 1.0% MoM (-5.5% in 2023) in October 2023.

The non-resident deposits went up by 1.3% MoM (-6.4% in 2023) in October 2023.Qatar banking sector loan provisions to gross loans was at 3.9% in October 2023, compared to 4.0% in September 2023. While, the banking sector liquid assets to total assets was at 31.1% in October 2023, compared to 31.5% in September 2023.

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