Commercial Banks Deposits Surge by 6.3% to QR1,025bn in April

Doha, Qatar: Qatar’s banking sector witnessed continued growth in April this year as commercial banks saw an increase in deposits and credit facilities.

The total deposits stood at QR1,024.808bn in commercial banks in April 2024 when compared to its same month of April last year which amounted to QR964.152bn showing a yearly rise of 6.3 percent. Meanwhile in March of this year the total deposits reached QR1,031.034bn, according to data released by the National Planning Council.

The public sector deposits for April this year stood at QR372.986bn in commercial banks representing a rise of 0.9 percent and 11.7 percent on monthly and yearly basis. On the other hand private sector deposits totaled QR467.188bn in April 2024 recording a jump of 4 percent year on year and decline of 0.9 percent on month on month basis.

The non-resident deposits in commercial banks in April this year amounted to QR184.634bn registering a yearly increase of 1.9 percent and monthly decrease of 2.8.

Qatar’s commercial banks credit facilities in public sector during April 2024 reached QR389.114bn registering an increase of 3.9 percent on yearly basis and monthly decrease of 1 percent. While the private sector credit facilities during the review period stood at QR867.257bn seeing a monthly decline of 0.4 percent and yearly jump of 5.1 percent. 

The non-resident credit facilities in commercial banks stood at QR63.506bn. The country’s commercial banks total credit facilities amounted to QR1.310 trillion in April 2024 showing a monthly rise of 0.1 percent and a yearly surge of 4.9 percent. The money supply1 (M1) amounted to QR154.612bn during April 2024, while the money supply2 (M2) recorded about QR735.976bn during April this year showing an annual rise of 5.7 percent.  The money supply3 (M3) amounted to QR855.365bn during April 2024 showing a yearly rise of 7.2 percent.

The number of shares traded grew by 13.7 percent on year on year basis. It also recorded a rise in the value of shares traded by 26.7 percent in April 2024 compared to the same month in last year.