(MENAFN- Gulf Times) Customers' deposits of commercial banks in Qatar witnessed about 6% year-on-year expansion to QR811.55bn in February this year, according the central bank data.
The QR811.55bn total customers deposits accounted for about 59% of the commercial banks' liabilities during the review period, Qatar Central Bank figures revealed.
Of the total customer deposits, the private sector contributed QR470bn or 58% of the total in February. However, deposits from the private sector had seen about 8% annual decline in the review month, Qatar Central Bank figures revealed.
Public sector deposits saw a huge more than 52% surge to QR310.47bn or 38% of the total customer deposits in February 2018; whereas deposits from non-banking financial institutions witnessed 6% decline to QR31.08bn or about 4% of the total customer deposits.
Domestic deposits grew about 18% to QR669.12bn, which accounted for 82% of the total deposits; whereas overseas deposits declined 28% to QR142.42bn or 18% of the total, Qatar Central Bank figures said.
Services sector contributed QR276.93bn or 41% of the total domestic deposits. The deposits from the sector showed the highest growth rate of 37.37%.
Personal deposits grew 6.38% year-on-year to QR173.55bn, which accounted for 26% of the total domestic deposits in February 2018. Government deposits expanded more than 27% to QR85.24bn or about 13% of total domestic deposits.
The trading sector's deposits amounted to QR42.55bn or 6% of the total domestic deposits. The deposits from the sector witnessed about 14% growth on annual basis in February this year.
The deposits from the industrial sector witnessed more than 34% increase to reach QR32.86bn or 5% of the total domestic deposits in February this year.
The contracting sector contributed QR13.25bn, which however, saw 8% decline year-on-year. The sector's deposits were 2% of the total domestic deposits.
The deposits from the real estate sector witnessed the largest decline of 27% to QR5.83bn or about 1% of the total domestic deposits this year.
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