Bank deposits are a crucial aspect of the banking industry.
They involve the act of placing money into a banking institution for safekeeping.
These funds are typically deposited into various accounts, such as savings, checking, and money market accounts.
As per the account agreement's terms and conditions, the depositor has the right to withdraw deposited funds.
It's important to note that the deposit is a liability the bank owes to the depositor. This liability refers to the bank's obligation to return the funds to the depositor when requested.
In Qatar, only two banks, Ahli Bank (ABQK) and Masraf Al Rayan (MARK), grew their deposits in Q1 2023 compared to the previous year.
ABQK’s deposits reached QAR 30,7 billion, while MARK reported a deposit of QAR 8,9 billion. These figures indicate a 6% and 2% year-on-year growth, respectively.
Bank deposits play a vital role in the economy, allowing individuals and businesses to store their money and access it when needed securely.
The growth of deposits in Qatar's major banks is a positive sign for the country's financial stability and economic growth.
If you liked this post, follow @Sahmik_at for more.
#Sahmik_at #Qatar #QatarStockExchange #QSE #finance #GulfCooperationCouncil #GCC #GCCnews #news #stockmarket #stocks #stocknews #financialnews #stockmarketperformance #stockperformance #investments #financialinvestments