Doha, Qatar: Qatar’s banking sector witnessed continued growth in February this year as commercial banks saw an increase in deposits and credit facilities.

The total deposits stood at QR1028.646bn in commercial banks in February 2024 when compared to January this year which amounted to QR1014.325bn showing a monthly rise of 1.4 percent. Meanwhile in February of last year the total deposits reached QR950.169bn showing a surge of 8.3 percent on a yearly basis.

The public sector deposits for February this year stood at QR368.960bn in commercial banks representing a rise of 2.2 percent and 14.8 percent on monthly and yearly basis. On the other hand private sector deposits totaled QR476.802bn in February 2024 recording a jump of 1.1 percent and 5.5 percent respectively on month on month and year on year basis.

The non-resident deposits in commercial banks in February this year amounted to QR182.884bn registering an increase of 0.7 percent and 4.2 percent on monthly and yearly basis.

According to the official data Qatar’s commercial banks credit facilities in public sector during February 2024 reached QR389.103bn registering an increase of 7 percent on yearly basis and monthly decrease of 0.7 percent. While the private sector credit facilities during the review period stood at QR868.455bn seeing a monthly decline of 0.4 percent and yearly jump of 5.3 percent.

The non-resident credit facilities in commercial banks stood at QR55.365bn. The country’s commercial banks total credit facilities amounted to QR1.312 trillion in February 2024 showing a monthly rise of 5.3 percent and a yearly decline of 0.5percent.

The money supply1 (M1) amounted to QR156.765bn during February 2024, while the money supply2 (M2) recorded about QR747.492bn during in the review period showing an annual and monthly rise of 6.5 percent and 1.7 percent.

The money supply3 (M3) amounted to QR860.198bn during February 2024 showing monthly rise of 1.6 percent and yearly increase of 9.1 percent. The data also revealed that the number of shares traded grew by 42.6 percent on year on year basis. It also recorded a rise in the value of shares traded by 22.8 percent in February 2024 compared to the same month in 2023.

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