The assets of Qatari commercial banks rose by 11.6%, last April, on an annual basis setting a new record.
The rise in the assets of Qatari banks comes as the repercussions of Coronavirus diminish, and banks around the world have come out of the lag caused by the pandemic.
The Qatar Central Bank said that the assets of Qatari banks rose to 1.749 trillion riyals in April, while it was 1.568 trillion riyals in the same month of 2020.
Assets of Qatari banks
On a monthly basis, the assets of Qatari banks increased by 0.08 percent last April, compared to about 1.748 trillion riyals in the previous month.
According to the data, bank deposits grew by 7.3 percent to 943.5 billion riyals last month, from 879.34 billion riyals in April / April 2020.
The credit facilities granted by banks increased by 10.7 percent to 1.182 trillion riyals by the end of last month, compared to 1.068 trillion riyals in the same month of 2020.
Whereas, there are 19 banks operating in the Qatari market, including seven local commercial banks, in addition to five other Islamic banks, and seven foreign branches.
The Qatar Central Bank had shown a decrease in total reserves in the banking system at the end of last April to 101.8 billion riyals at an annual rate of 8.9%, compared to 110.6 billion riyals in the month corresponding to 2020.
It also decreased by 2.73 billion riyals, compared to last March.
Thus, the reserve cash became 49.5% of the bank’s cash reserves, which amounted to about 205.05 billion riyals during the past month.
In a related context, the surplus value of the trade balance of the State of Qatar with Japan increased, in favor of Doha, during the month of April of this year, by 38.8%, on an annual basis.
Also, data issued by the Japanese Ministry of Finance stated that the value of the trade balance surplus of the State of Qatar with Japan amounted to 86.81 billion yen (about $796.24 million) last month, compared to 62.54 billion yen (about $573.63 million) in April 2020.
Meanwhile, the annual growth of Qatar’s trade surplus with Japan last month contributed to an increase in the volume of its exports to Japan by 39.8% at 94.06 billion yen by about $862.74 million, compared to 67.29 billion yen (about $617.20 million) in April 2020.