Doha: Qatar’s banking sector continued to record robust growth in March as the country’s commercial banks recorded an increase in deposits and credit facilities, according to the latest data released by the Planning and Statistics Authority (PSA).
According to the report, cash equivalents including commercial bank deposits in Qatar stood at QR 967.7 billion in March, an increase of 0.3% from QR 964.5 billion in March. previous month (February 2022). On a year-on-year (YoY) basis, total commercial bank deposits increased by 2.4% from QR 945.2 billion in the same period last year (March 2021).
Similarly, the total broad money supply (M2) recorded around QR 632.9 billion in March 2022, an annual increase of 3.3% compared to March 2021. One of the main variables in this question is the increase in the value of the shares traded at a monthly rate. of 72.8%, faced with an increase in the general market index (point) at a monthly rate of 4.5% compared to the previous month (February 2022).
In addition, commercial bank credit facilities in Qatar increased by 0.4% compared to February 2022 and registered an annual increase rate of 3.5% compared to March 2021.