Printer Friendly

Public sector drives Qatar's loan book in September: QNBFS.


Driven by the public sector, Qatar banks' overall loan book climbed up 1.1% month-on-month (MoM) in September, QNB Financial Services (QNBFS) has said in a report. The loan book increased by 1.1% MoM after declining by 1.7% MoM in August (gaining by 2% MoM in July). Total domestic public sector loans increased by 2.2% MoM (+12.1% year-to-date YTD). The government segment's loan book led the growth, expanding by 4.8% MoM (+36.4% YTD). Moreover, the government institutions' segment (represents ~53% of public sector loans) ticked up by 0.7% MoM during September as opposed to a flat performance MoM in August (+0.2% YTD), it said. On the other hand, the semi-government institutions' segment slightly dipped MoM (-0.2%). Hence, the government sub-segment pulled the overall loan book up for the month of September . Private sector loans inched up by 0.7% MoM in September compared with a flat performance (+0.4%) MoM in August. The real estate segment aided the uptick in private sector loans (contributes ~28% to private sector loans), moving up by 0.8% MoM (+4.1% YTD). Moreover, the consumption and others segment (represents ~28% of private sector loans) also helped loan growth, increasing by 0.7% MoM (flat YTD). On the other hand, Services exhibited flat performance MoM (+16.9% YTD). It should be noted that on a YTD basis, this segment contributed the most to the growth in total private sector loans. Deposits followed suit, growing by 2.6% MoM (declining by 3.4 MoM in August). Public sector drove total credit growth with a gain of 2.2% MoM (down 5.6% MoM in August.). Moreover, public sector deposits expanded by 3.2% MoM after dropping by 10.5% MoM in August. Thus, QNBFS noted that the LDR was broadly unchanged at 118% compared with 119% at the end of August (117% in July). The public sector deposits rebounded by 3.2% MoM in September after a decline of 10.5% and 2.5% MoM in August and July, respectively. Delving into segment details, the government segment (represents ~32% of public sector deposits) led the growth, increasing by 8.1% MoM (flat YTD). Moreover, the semi-government institutions' segment gained by 6.7% MoM compared with a 3.7% MoM drop in August (down 12.3% YTD). On the other hand, the government institutions segment continued its negative trajectory, receding by 0.7% MoM after dropping by 1.4% and 3.7% MoM in August and July, respectively (down 21.4% YTD). On the private sector front, the companies and institutions' segment climbed up by 1.3% MoM after a flattish performance in August (down 6.7% YTD). On the other hand, the consumer segment exhibited flat performance MoM (+8.1% YTD). Non-resident deposits expanded by 6.6% MoM (+69.1% YTD), QNBFS said.

[c] Gulf Times Newspaper 2016 Provided by SyndiGate Media Inc. ( ).

COPYRIGHT 2016 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Gulf Times (Doha, Qatar)
Date:Oct 24, 2016
Previous Article:Qatar set to become regional hub for luxury fashion: BMI Research.
Next Article:Javelin star Yego 'lucky to be alive' after crash.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters