Data published by the Qatar Central Bank shows loan growth decreasing by 1.1 per cent month-on-month in February (against a rise of 0.2 per cent in January). Year-on-year growth in February was 28.4 per cent versus 29.9 per cent in January.
Arqaam Capital said, “The m/m slowdown is driven partly by a continued decline in the public sector (-2.9 per cent m/m vs. -0.9 per cent m/m in Jan, but y/y very solid at 52.3 per cent). The private sector also decreased by -0.2 per cent m/m vs. +0.1 per cent in Jan, and was up 14.5 per cent y/y. The public sector still accounts for 44.5 per cent of total loans.
“Total deposit growth (+0.9 per cent m/m, +37.9 per cent y/y) continued to outpace loan growth, resulting in a more comfortable L/D ratio of 103 per cent vs. 105 per cent in Jan, 110 per cent in Dec 12 and 118 per cent a year ago. The public sector deposits growth remain stagnant m/m, but was up 68.4 per cent y/y, and 5.5 per cent ytd, while the private sectors slightly increased by 1 per cent m/m, 4.4 per cent ytd and 14.9 per cent y/y.
Read more: http://www.cpifinancial.net/news/post/19407/qatar-central-bank-data-shows-slowdown-in-february-loan-growth
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