Mubasher: Assets owned by banks operating in Qatar decreased 1.4% month-on-month in October, according to data released by the Qatar Central Bank (QCB) on Monday .
Total assets amounted to QAR 1.38 trillion ($380.3 billion) in October down from QAR 1.40 trillion ($385.7 billion) in September.
On a yearly basis, assets rose 4.9% from QAR 1.31 trillion in October 2017, the QCB's data showed.
Qatari bank lending went down 1.1% to QAR 737.4 billion in October, versus QAR 948.2 billion in the prior month, while cash dropped 0.4% month-on-month to QAR 176.5 billion.
Similarly, banks’ reserves inched up 0.3% to QAR 36.76 billion in October, from QAR 36.64 billion in September.
Since 5 June 2017, Qatar has been facing outflows of foreign customers' deposits after four Arab countries, led by Saudi Arabia, cut their diplomatic and trade ties with the gas-rich state, accusing Qatar of financing terrorism. Doha forcefully denied the charges.
