Commercial Bank building
Doha: Qatar’s banking sector continued to register robust growth in March, with commercial banks in the country witnessing an increase in deposits and credit facilities, latest data released by the Planning and Statistics Authority (PSA) showed.
According to the report, cash equivalents including commercial bank deposits in Qatar stood at QR967.7bn in March, an increase of 0.3 percent compared to QR964.5bn during the previous month (February 2022). When compared year-on-year (Y-o-Y), commercial banks total deposits grew by 2.4 percent from QR945.2bn in the same period last year (March 2021).
Similarly, total broad money supply (M2) recorded about QR632.9bn in March 2022, an annual increase of 3.3 percent compared to March 2021. One of the prominent variables in this issue is the aincrease in the value of traded shares at a monthly rate of 72.8 percent, vis-à-vis a rise in the general market index (point) at a monthly rate of 4.5 percent compared to the previous month (February 2022).
In addition, Qatar’s commercial banks credit facilities increased by 0.4 percent compared to February 2022, and recorded an annual increase rate of 3.5 percent compared to March 2021.
