Robust growth in loans help Qatar commercial banks post 12.13% jump in domestic credit: QCB
February 11 2020 08:39 PM
Bank street, Qatar
The trading sector saw a yearly 58.13% surge in credit by Qatar commercial banks to QR143.25bn, which accounted for 15% of the total domestic credit during the review period, according to QCB data. PICTURE: Nasar K Moidheen

Robust growth in loans, especially to trading and services, helped commercial banks in Qatar to witness a 12.13% year-on-year expansion in domestic credit at the end of December 2019, according to Qatar Central Bank (QCB) data.
The trading sector saw a yearly 58.13% surge to QR143.25bn, which accounted for 15% of the total domestic credit during the review period.
Of the QR143.25bn credit to the trading sector, as much as 39%, or QR55.4bn, went to the commercial agencies, 28% (QR39.59bn) for other non-specified segments, 6% (QR8.81bn) for automobiles and spare parts and 4% (QR5.49bn) for the food segment.
The commercial banks' credit to the services sector saw 30.05% year-on-year increase to QR281.75bn, which constituted 29% of the total domestic credit at the end of December 2019.
The credit to the general services witnessed a 29.09% yearly increase to QR255.81bn, which accounted for 91% of the total credit to the services sector.
Within the general services, credit to air transport grew 6.93% year-on-year to QR83.36bn, or 33% of total domestic credit to general services; real estate by 26.29% to QR73.96bn (29%); hotels by 45.76% to QR27.14bn (11%) and engineering by 14-fold to QR11.53bn (5%) at the end of December 2019.
In the case of financial services, it registered an impressive 40.37% growth to QR25.94bn at the end of December last year.
The real estate sector, which is the third largest credit recipient, however, saw credit intake fall 2.09% to QR194.65bn, or 20% of total domestic credit at the end of December 2019.
The consumption sector saw a 7.86% increase in credit intake to QR137.23bn, or 14% of the total domestic credit.
The consumption credit for nationals reported a 9.46% yearly increase to QR122. 27bn; while those to non-Qataris fell 3.73% to QR14.95bn in the review period.
Credit to the sovereign stood at QR133.79bn, or 14% of the total domestic credit. It however showed an 11.93% fall year-on-year in December 2019.
Credit to the contracting sector declined 4.09% year-on-year to QR35.85bn, which stood at 4% of the total domestic credit.
The industrial sector received QR25.94bn credit line, which was 3% of the total domestic credit. It, however, fell 5.71% year-on-year.
The fall in overall credit intake in the industrial was on account of a 28.72% fall in credit to manufacturing to QR5.41bn; oil by 15.79% to QR2.42bn and natural gas by 9.97% to QR7.95bn; while that to heavy industries grew 12.89% to QR10.16bn.



There are no comments.

LEAVE A COMMENT Your email address will not be published. Required fields are marked*
MORE NEWS

HAPPENING IN DOHAMore