Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- Real estate, contracting chew most bank credits  Join our daily free Newsletter

MENAFN - The Peninsula - 07/07/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Real estate and contracting sectors together make up one of the biggest shares of commercial banks' total domestic credit facilities in Qatar. The banks' exposure to the real estate and contracting sectors jointly stood 20.29 percent of Qatar's total credit facilities, second biggest chunk after the public sector.

Qatar Central Bank's (QCB) data revealed the country's commercial banks' total domestic credits stood at QR547bn by the end of March 2014. The loans to the real estate sector and contracting sectors together accounted for QR111bn, with the real estate having the bigger share of QR85bn, slightly down from QR86bn availed a year ago.

The commercial banks' credit to the public sector touched QR246bn during the first quarter of 2014, compared to QR207bn during the same period in 2013. Significantly, the banks' provisions rose by 24.81 percent to QR10.36bn in March 2014, compared to QR8.3bn in March 2013.

The ratings agency Standard & Poor's said in May 2014 that Qatar banks' exposure to the real sector is significant. It noted that there is a slight increase in Qatari banks' cost of risk because of additional provision on loans to contractors and real estate developers. However, the report reasserted that Qatari banks are the most efficient banks in the region.

The Central Bank data revealed that the QCB's total assets grew by 13.4 percent in March 2014 on year on year basis.

The Central bank's total assets touched QR203bn in the first quarter of 2014 compared to QR179bn recorded during the same period in 2013.

The QCB's balance with foreign banks grew by 23 percent on year on year basis. As on March 2014, the bank's total balance with foreign banks stood QR48bn, compared to QR39bn a year ago.

The monetary survey of Qatar's banking system that includes the QCB and the country's commercial banks, showed the system's net foreign assets reached QR106.65bn in 2013. The net foreign assets saw a huge surge on year-on-year basis during the month of March 2014. During Q1, 2014 the volume of assets touched QR1176bn compared to QR683.12bn in Q1, 2013, up 72 percent.

The QCB's total liabilities grew by 12 percent as it jumped to QR946bn in Q1, 2014 from QR843bn recorded a year ago.

In 2013, QCB's total liability stood at QR910bn. The Central bank's international reserves also witnessed a rise during the first quarter of 2014 on year-on-year.

The reserves rose to QR146.71bn in March 2014 from QR138.92bn recorded in Q1, 2013. The gold reserves reached worth QR2.33bn in Q1, 2014 and the value of foreign securities touched QR94bn.

The Commercial banks' domestic investment reached QR146bn in 2013.

As on March 2014, the domestic credit was QR547bn, up from QR533bn in March 2013. However, domestic investments dropped to QR122.99bn in March 2014, compared to a year ago.

The non-resident deposits of Qatar's commercial banks declined by 60 percent to QR30bn in the first quarter of 2014 from QR48bn a year ago.

QCB describes the non-resident as "persons , who usually lives outside Qatar and or who lives inside Qatar for less than one year, despite the nationality of the person."

The commercial banks' total deposits reached QR580.99bn in the first quarter, up 19.54 percent compared to QR486bn in the same period of the previous year. The deposits from the private sector also rose 20 percent to QR312bn from QR260bn a year ago.

 


The Peninsula




  MENA News Headlines
 Oct 25 2014 - Qatar's inflation rate to hit 5.5 percentMENAFN
(MENAFN) Qatar's inflation rate in 2014 is expected to touch 5.5 percent due to steady rise in housing rentals, according to the finding of a research conducted by Standard Chartered, The Peninsula ...

 Oct 25 2014 - Flydubai launches two flights to TanzaniaMENAFN
(MENAFN) Dubai-based flydubai's inaugural flights to Dar es Salaam and Zanzibar touched down in Tanzania. The new routes further underline flydubai's rapid expansion in Africa, which has seen the ...

 Oct 25 2014 - UAE air cargo to grow 4.1 percent in 5 yearsMENAFN
(MENAFN) The International Air Transport Association (IATA) Airline Industry Forecast 2014-2018 shows that international freight volumes are expected to increase at a compound annual growth rate ...

 Oct 25 2014 - Qatar- QSL: El Jaish face Al Gharafa todayThe Peninsula
(MENAFN - The Peninsula) Third-placed El Jaish will seek to narrow the gap between them and two higher placed rivals - Lekhwiya and Al Sadd € when they take on Al Gharafa in the ninth round match of ...

 Oct 25 2014 - Somalia- Mogadishu port on development pathThe Peninsula
(MENAFN - The Peninsula) Camels are prepared for export at the loading dock at the seaport in Mogadishu. The Somali government's grand vision for Mogadishu port under its new Turkish managers sees ...

 Oct 25 2014 - Saudi Shias protest death sentencesThe Peninsula
(MENAFN - The Peninsula) More than 100 people protested in eastern Saudi Arabia yesterday to oppose death sentences against a Shia religious leader and seven others convicted after earlier ...

 Oct 25 2014 - Palestine defies US, issues statehood ultimatumThe Peninsula
(MENAFN - The Peninsula) Palestine's chief peace negotiator has laid out in the clearest terms yet plans to establish an independent Palestinian state within three years, even if it means ignoring ...

 Oct 25 2014 - Police kill six militants ahead of key Tunisian pollThe Peninsula
(MENAFN - The Peninsula) Tunisian police killed six suspected militants, five of them women, in a raid on a suburban house yesterday after a 28-hour standoff, fanning tensions ahead of a landmark ...

 Oct 25 2014 - US looking into possible chlorine gas attack in Iraq: KerryThe Peninsula
(MENAFN - The Peninsula) The United States is looking into reports that Islamic State fighters used chlorine gas against Iraqi security forces, US Secretary of State John Kerry said yesterday.Kerry, ...

 Oct 25 2014 - Qatar- Ooredoo marathon offers QR1m prizesThe Peninsula
(MENAFN - The Peninsula) Registration for Ooredoo Doha Marathon 2015 is open, as the company begins preparations to ensure its biggest event yet on January 9.It will provide an opportunity to meet ...

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help