By: Eman Ghaly
Mubasher: Assets of banks operating in Qatar rose 7.5% year-on-year to QAR 1.363 trillion ($374.5 billion) in December, registering the highest level in 2017, according to the Qatar Central Bank’s (QCB) data.
Lenders’ assets increased 2.3% month-on-month in December, the QCB’s monthly bulletin showed on Tuesday.
The total volume of cash and precious metals at the QCB dropped 8.6% to QAR 8.5 billion in December from QAR 9.3 billion the month before.
While the Qatari banks’ compulsory reserves grew 0.2% month-on-month to QAR 35.95 billion, the data added.
Meanwhile, loans decreased 1.1% to QAR 911.04 billion December compared to QAR 921.28 billion a month earlier.
Since 5 June 2017, Qatar has been facing outflows of foreign deposits after four Arab countries led by Saudi Arabia cut their diplomatic ties with the gas-rich state, accusing Qatar of financing terrorism.
Translated by: Kholoud Mohamed Hussein
