(MENAFN- The Peninsula) The Peninsula
Doha: Qatar banking sector assets edged down by 0.4 percent MoM (up 0.1 percent in 2022) in October 2022 to QR1.829 trillion. The banking sector loan book increased by 0.4 percent MoM (up 0.2 percent in 2022) and deposits declined by 1.1 percent MoM (-2.0percent in 2022) in the month of October 2022. The Private sector pushed the overall credit higher (up 0.7percent MoM in October). As deposits moved down by 1.1percent in October, the LDR rose to 127.8percent vs. 125.8percent in September 2022.
The overall loan book increased by 0.4percent in October 2022. Total private sector loans moved up by 0.7 percent MoM (+4.4percent in 2022) in October 2022. The Services segment and Real Estate were the main contributors toward the private sector loan growth for the month of October 2022. Services (contributes ~29percent to private sector loans) increased by 2.2percent MoM (+7.7 percent in 2022). Real Estate segment (contributes ~21percent to private sector loans) went up by 0.8 percent MoM (+6.6percent in 2022). Consumption & Others (contributes ~21 percent to private sector loans) gained 0.4 percent MoM (+4.9 percent in 2022), while General Trade (contributes ~20 percent to private sector loans) declined by 1.2 percent MoM (-0.1 percent in 2022) during the month of October 2022. Outside Qatar loans went up by 1.4 percent MoM (-7.7 percent in 2022) during the month of October 2022.
Domestic public sector loans went down slightly by 0.2 percent MoM (-6.7 percent in 2022). The government segment (represents ~30 percent of public sector loans) fell by 1.5 percent MoM (-24.8 percent in 2022). However, the government institutions' segment (represents ~64 percent of public sector loans) loan book increased by 0.4percent MoM (+4.3 percent in 2022), while the semi-government institutions' segment moved up marginally by 0.1 percent MoM (+2.3 percent in 2022).
Non-resident deposits continued its steep decline for the year and fell by 5.0 percent MoM (-31.1 percent in 2022) in October 2022, thereby leading the decliners in the overall drop in the Qatar Banking Sector deposits for the month.
Public sector deposits declined by 2.1 percent MoM (+10.1 percent in 2022) for the month of October 2022. Looking at segment details, the semi-government institutions' segment had a huge drop by 19.4 percent MoM (+10.5 percent in 2022), while the government segment (represents ~25 percent of public sector deposits) declined by 7.5 percent MoM (-20.0 percent in 2022). However, the government institutions' segment (represents ~62 percent of public sector deposits) increased by 5.0 percent MoM (+29.8 percent in 2022).
Private sector deposits moved higher by 1.5 percent MoM (+9.4 percent in 2022). On the private sector front, companies & institutions' segment gained 3.5 percent MoM (+18.3 percent in 2022). Meanwhile, the consumer segment went down by 0.4 percent MoM (+1.9 percent in 2022) during October 2022.
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