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Wed 19 Aug 2015 02:58 PM

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Qatar banks' balance sheet 'up $11.5bn in June'

Data issued by central bank also reveals total domestic debt rose by $2.2bn during month

Qatar banks' balance sheet 'up $11.5bn in June'

Qatar banks’ assets and liabilities rose by $11.5 billion (QR42.1 billion) between May and June 2015, according to a statement from Qatar Central Bank (QCB).

Total assets and liabilities in June stood at QR1.06 trillion as a result of the 4.1 percent month-on-month rise, reported The Peninsula newspaper.

Total domestic loans and credit facilities provided by banks to Qatar’s private sector was QR385.6 billion – an increase of QR14.2 billion – and the value of loans and facilities for the non-banking financial sector was QR12.2 billion.

There was also a QR6.2 billion increase in government and public sector deposits over the same period, to reach QR228.1 billion.

And Qatar banks’ investments in securities outside the Gulf state increased by QR2 billion to QR22.2 billion, QCB said.

The statement also showed that local banks’ assets sitting in banks outside of Qatar increased by QR8.1 billion to reach QR78.6 billion, while foreign banks’ liabilities in banks in Qatar increased by QR12.4 billion to QR140.9 billion, the newspaper said.

Credit to the real estate sector totalled QR99.5 billion, an increase of QR2 billion; credit for contractors reached QR35 billion, up QR200 million, and the service sector received loans totalling QR59.8 billion, up QR1.7 billion from the previous month.

The only decrease recorded, according to the newspaper, was the balance of Government of Qatar bonds and bills with banks, which dropped by around QR1.6 billion to QR101.7 billion.

Total domestic public debt — from central government, government institutions, quasi-government institutions, bills and bonds — increased by QR5.7 billion to QR324.9 billion, QCB said.

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