The non-resident deposits in Qatar's commercial banks grew much faster than the resident deposits as well as the total deposits year-on-year this May, according to the central bank data.
The non-resident deposits with the domestic Islamic banks were also seen considerably outpacing the total non-resident deposits in the country's banking system; said the data of the Qatar Central Bank.
The non-resident deposits in the commercial banks witnessed a 34.23% year-on-year increase to QR278.36bn, which constituted 15.66% of the total liabilities in the review period.
In the case of the resident deposits, it grew slower at 4.09% year-on-year to QR682.82bn or 38.46% of the total liabilities in May this year.
The non-resident deposits within the Qatari banks soared 34.22% year-on-year to QR276.91bn and those within foreign banks were up 33.33% to QR1.44bn in May this year.
Within the domestic lenders, non-resident deposits with the traditional banks expanded 26.89% year-on-year to QR226.1bn and those with the Islamic banks shot up 80.63% to QR50.81bn in the review period.
Within the foreign banks, the non-resident deposits with the Arab lenders shot up 28.57% year-on-year to QR0.27bn and non-Arab banks by 36.05% to QR1.17bn in May this year.
The resident deposits with the Qatari banks rose 4.72% to QR663.93bn; whereas those with the foreign banks witnessed a 13.45% decline to QR19.89bn in May 2021.
The resident deposits with the traditional lenders were down 0.25% year-on-year to QR419.31bn; while those with the Islamic lenders soared 14.5% to QR244.62bn in the review period.
Within the foreign banks, the resident deposits with the Arab lenders were seen declining 7.48% to QR5.81bn and those with the non-Arab lenders by 15.69% to QR14.08bn in May 2021.
“Non-resident capital inflows will remain high around $21bn in 2021, driven by loans to government related-entities and a significant increase in non-resident deposits," the US-based the Institute of International Finance had said in a report.
The total deposits in Qatar’s commercial banks were seen growing 11.32% year-on-year to QR962.18bn in May this year.
The private sector deposits rose 1.47% year-on-year to QR397.58bn and the public sector deposits by 7.95% to QR286.24bn in the review period.
Within the private sector, personal deposits were up 2.59% year-on-year to QR220.89bn and those of the companies and investment entities by 0.1% to QR176.68bn in May 2021.
Within the public sector, the government deposits were seen dropping 4.69% year-on-year to QR85.35bn; whereas those of government institutions gained 12.77% to QR165.85bn and semi-government institutions by 22.78% to QR35.04bn in the review period.
The local currency demand deposits in within private sector deposits grew 2.38% year-on-year to QR112.26bn and the local currency time and savings deposits by 4.75% to QR204.98bn in the review period.
Within the private sector foreign currency deposits, the demand component expanded 8.4% year-on-year to QR21.95bn; whereas the time and savings component shrank 11.85% to QR58.4bn in May 2021.
In the public sector, the local currency demand deposits were seen gaining 54.15% year-on-year to QR47bn; while time and savings deposits were down 2.6% to QR136.61bn in May this year.
Within the public sector foreign currency deposits, the demand and time and savings components declined 68.39% and 54.13% year-on-year to QR24.65bn and QR29.69bn respectively in May 2021.
The non-resident deposits with the domestic Islamic banks were also seen considerably outpacing the total non-resident deposits in the country's banking system; said the data of the Qatar Central Bank.
The non-resident deposits in the commercial banks witnessed a 34.23% year-on-year increase to QR278.36bn, which constituted 15.66% of the total liabilities in the review period.
In the case of the resident deposits, it grew slower at 4.09% year-on-year to QR682.82bn or 38.46% of the total liabilities in May this year.
The non-resident deposits within the Qatari banks soared 34.22% year-on-year to QR276.91bn and those within foreign banks were up 33.33% to QR1.44bn in May this year.
Within the domestic lenders, non-resident deposits with the traditional banks expanded 26.89% year-on-year to QR226.1bn and those with the Islamic banks shot up 80.63% to QR50.81bn in the review period.
Within the foreign banks, the non-resident deposits with the Arab lenders shot up 28.57% year-on-year to QR0.27bn and non-Arab banks by 36.05% to QR1.17bn in May this year.
The resident deposits with the Qatari banks rose 4.72% to QR663.93bn; whereas those with the foreign banks witnessed a 13.45% decline to QR19.89bn in May 2021.
The resident deposits with the traditional lenders were down 0.25% year-on-year to QR419.31bn; while those with the Islamic lenders soared 14.5% to QR244.62bn in the review period.
Within the foreign banks, the resident deposits with the Arab lenders were seen declining 7.48% to QR5.81bn and those with the non-Arab lenders by 15.69% to QR14.08bn in May 2021.
“Non-resident capital inflows will remain high around $21bn in 2021, driven by loans to government related-entities and a significant increase in non-resident deposits," the US-based the Institute of International Finance had said in a report.
The total deposits in Qatar’s commercial banks were seen growing 11.32% year-on-year to QR962.18bn in May this year.
The private sector deposits rose 1.47% year-on-year to QR397.58bn and the public sector deposits by 7.95% to QR286.24bn in the review period.
Within the private sector, personal deposits were up 2.59% year-on-year to QR220.89bn and those of the companies and investment entities by 0.1% to QR176.68bn in May 2021.
Within the public sector, the government deposits were seen dropping 4.69% year-on-year to QR85.35bn; whereas those of government institutions gained 12.77% to QR165.85bn and semi-government institutions by 22.78% to QR35.04bn in the review period.
The local currency demand deposits in within private sector deposits grew 2.38% year-on-year to QR112.26bn and the local currency time and savings deposits by 4.75% to QR204.98bn in the review period.
Within the private sector foreign currency deposits, the demand component expanded 8.4% year-on-year to QR21.95bn; whereas the time and savings component shrank 11.85% to QR58.4bn in May 2021.
In the public sector, the local currency demand deposits were seen gaining 54.15% year-on-year to QR47bn; while time and savings deposits were down 2.6% to QR136.61bn in May this year.
Within the public sector foreign currency deposits, the demand and time and savings components declined 68.39% and 54.13% year-on-year to QR24.65bn and QR29.69bn respectively in May 2021.