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Assets of Qatari commercial banks rise 4.8% in March

Qatari commercial banks

Doha, (Business News Report)|| Assets of Qatari commercial banks increased by 4.8% during the month of March, compared to the same month last year.

The assets of Qatari commercial banks reached 183.2 billion riyals ($50.32 billion), compared to $174.8 billion ($48 billion).

The Central Bank of Qatar said that the assets of these banks during the month of March 2021 were 17.48 billion riyals ($4.80 billion).

The assets of commercial banks consist of a total of three main components: reserves with the Central Bank, cash in circulation, and foreign assets, including balances with banks abroad.

Assets also include credit granted outside Qatar, bank investments abroad, other assets, local assets including bank balances inside Qatar, local credit, local investments, and fixed assets.

The balances of Qatari banks abroad rose last March to 121.7 billion riyals ($33.42 billion), an increase of 19 billion riyals ($5.22 billion) over the previous February, and compared to 110.9 billion riyals ($30.46 billion) before March 2021. .

Total cash reserves and balances with the Qatar Central Bank decreased in March to 87.6 billion riyals ($24 billion), compared to 89.2 billion riyals ($24.5 billion) a year ago.

Foreign assets, led by credit granted by Qatari banks outside the country, declined to 68.38 billion riyals (17.87 billion dollars), compared to 74.9 billion riyals ($13.16 billion).

Qatari banks’ investments abroad decreased to 57.85 billion riyals ($18.90 billion), compared to 58.7 billion riyals ($16.12 billion) in February, and 57 billion riyals ($15.66 billion) in March 2021.

With regard to domestic assets, which include balances with Qatari banks, local credit and local investments, they rose in total to 114.7 billion riyals ($31.5 billion), compared to 114.1 billion ($31.34 billion) in February, and 109.9 billion riyals (30.18 billion). billion) in March 2021.

Domestic credit now constitutes 62.6% of total banking assets. Balances with banks in Qatar rose in March to 58.9 billion riyals ($ 16.45 billion), compared to 52.2 billion riyals ($ 14.34 billion) in February, but decreased compared to 59.7 billion riyals ($16.40 billion) a year ago.

Domestic investments increased in March to 240.3 billion riyals ($66 billion), compared to 239.6 billion riyals ($65.81 billion) in February, and 209.5 billion riyals ($57.54 billion).