Mubasher: Deposits at banks operating in Qatar inched down 0.29% year-on-year in February, the Qatar Central Bank’s (QCB) data showed.
Total deposits retreated to QAR 809.16 billion ($222.28 billion) last month, compared to QAR 811.55 billion ($222.94 billion) in February 2018.
Annual performance
The annual drop in deposits was pressured by the 5.78% fall in Qatari government deposits which declined to QAR 292.54 billion in February, from QAR 310.47 billion in the corresponding month a year earlier.
Meanwhile, deposits of non-bank financial institutions plunged to 13.74% year-on-year, logging QAR 26.81 billion, from QAR 31.08 billion in February 2018.
On the other hand, the private sector’s total deposits went up 4.22% to QAR 489.81 billion in the second month of 2019, against QAR 469.99 billion in the same month a year earlier.
Similarly, non-residents' deposits in Qatar grew 19.78% to QAR 170.59 billion, from QAR 142.42 billion in February 2018.
Monthly performance
Month-on-month, deposits of commercial banks operating in the gas-rich nation rose 2.47% to QAR 809.16 billion in February, from QAR 789.68 billion in January.
The monthly growth was supported by the 3.08% increase in Qatari government deposits, which levelled up to QAR 292.54 billion, versus QAR 283.79 billion in January.
The private sector’s total deposits grew 2.15% on a monthly basis, logging QAR 489.81 billion last month, against QAR 479.52 billion.
Meanwhile, deposits of non-bank financial institutions increased by 1.66% to QAR 26.81 billion in February, compared to QAR 26.37 billion a month earlier.
