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FINANCIAL NEWS
Qatar’s loan growth flat in July, up 6.8 percent annually
24 Aug 2015
(MENAFN) Loan growth, which is vital to banks’ income growth, was flat for Qatari banks in July, but showed a 6.8 percent increase year-to-date (between January and July, 2015), says a report.
In its July report for Qatar’s banking sector, QNB Financial Services said yesterday that deposit growth of the banks also suffered in the month as it fell by 3.1 percent on-month but grew year-to-date by 3.8 percent.
Banks’ credit disbursal suffered in July as dispensation to the public sector dipped by 2.6 percent month-on-month and fell by 6.9 percent year-to-date, the released data showed.
Private sector continued its positive trajectory led by real estate and the contracting sector. Moreover, public sector deposits contracted by 10.8 percent on-month (and down 10.8 year-to-date).
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