Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar - Infra projects fuel credit growth  Join our daily free Newsletter

MENAFN - The Peninsula - 24/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Banks in Qatar registered a 12 percent growth in domestic loans in 2013 with domestic credit growing to QR533bn at the end of 2013 from QR477bn in 2012, according to Qatar Central Bank data



Growth in lending of banks was mainly driven by infrastructure projects related to FIFA World Cup which will be hosted in Qatar in 2022. To prepare for the world cup, the government is investing heavily in basic infrastructure such as roads, expressways, metro and rail. The loan growth is expected to remain firm in the coming years due to ongoing infrastructure projects



"With the acceleration of investment projects ahead of the 2022 FIFA World Cup, these trends (growth in loans) are likely to continue going forward," said Qatar National Bank in a recently released report. A large infrastructure spending programme of the government will have multiplier effect in the economy as it will generate demand for cement, steel and other materials, as well as for services



Last year, October emerged as the best month for banking sector in terms of loan growth as banks witnessed highest increase of about four percent during the month. Loans of the banks grew to Q527.5bn at the end of October 2013 from QR509.4bn at the end of September 2013.




In terms of quarterly performance, loan growth was highest in the last quarter (October-December) as domestic credit grew by 4.7 percent to QR533bn at the end December from QR509bn at the end of the third quarter



According to industry experts, one of the main reasons for increased loan growth is that the business activities are usually on higher side during the last quarter of year.



Deposits of the banks also grew at healthy rate in 2013. Total deposit of the banks witnessed a growth of 23 percent during last year to QR514.8bn at the end of 2013 from QR417bn at the end of 2012.



In terms of quarterly performance, deposit growth was highest in the second quarter (April-June) as domestic credit grew by 11 percent to QR494bn at the end December from QR445bn at the end of the third quarter (July-September)



In the total deposits, private sector deposits grew by 20 percent to QR284.6bn at the end of 2013 from QR236.6bn at the end of 2012. Experts believe that deposit growth of banks in Qatar is likely to witness healthy growth in coming years


 


The Peninsula




  MENA News Headlines
 Jul 28 2016 - S Korea to improve historic port of AlexandriaMENAFN
(MENAFN) South Korea has announced its readiness to enhance and develop the historic port city of Alexandria in Egypt, a report said.In detail the study will look into the technical feasibility of ...

 Jul 28 2016 - UAE's Empower eyes Wetex exhibitionMENAFN
(MENAFN) UAE-based Empower will showcase its most recent efforts to adopt environmental initiatives at the Water, Energy, Technology, and Environment Exhibition (Wetex 2016) in October.In detail, the ...

 Jul 28 2016 - Brokers: Centrica in favour with Credit SuisseProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) Josh Allsopp , Wed UK energy firms received a boost of broker confidence today, with both Credit Suisse and Deutsch Bank upgrading their price targets for ...

 Jul 28 2016 - World Bank increases oil price forecast for 2016ProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) The World Bank offered some respite to non-Opec oil exporters on Wednesday by upping its oil price forecast for 2016. The bank increased its projection to US$43 ...

 Jul 28 2016 - Centrica sees hit from warm US weather and low oil prices as profits dipProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) Centrica (LON:CNA) predicted a hit from low oil prices for its exploration division in the second half and said it would cut 3,000 jobs this year. The British ...

 Jul 28 2016 - PM Abe's plan for $265 billion stimulus puts pressure on BOJ to easeProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) Fuller Treacy Money, 08:26 PM Abe's plan for $265 billion stimulus puts pressure on BOJ to ease Japan's prime minister unveiled a surprisingly large $265 ...

 Jul 28 2016 - 'Marriott Al Forsan Hotel' to be unveiled in Abu DhabiMENAFN Press
(MENAFN Press) Agreement signed between H.E. Saif Al Hajeri, Chairman Al Forsan Holding, and Mr. Alex Kyriakidis, President and Managing Director of Marriott International, Middle East and ...

 Jul 28 2016 - Dubai's DP World bags port development contract in TaiwanMENAFN
(MENAFN) DP World, a Dubai-based global marine terminal operator, has inked a deal with the state-run Taiwan International Ports Corporation (TIPC), for the development of Kaohsiung Port's Terminal ...

 Jul 28 2016 - SDX Energy confirms completion of funding's second trancheProactiveInvestors - N.America
(MENAFN - ProactiveInvestors - N.America) SDX Energy Inc (LON:SDX, CVE:SDX) closed the second tranche of its recent funding, issuing new shares priced at 18p each (current price: 20.25p). The ...

 Jul 28 2016 - World Bank increases oil price forecast for 2016ProactiveInvestors - N.America
(MENAFN - ProactiveInvestors - N.America) The World Bank offered some respite to non-Opec oil exporters on Wednesday by upping its oil price forecast for 2016. The bank increased its ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help