Local currency credit from Qatar’s commercial banks to semi-government entities and the government sector as well as foreign currency credit to the real estate sector significantly exceeded the overall year-on-year domestic credit expansion in April, according to the report. central bank data. .
Foreign currency credit to government institutions, semi-government institutions, general services and industry was found to be higher than that in local currency in absolute terms during the period under review, according to data from the Central Bank of Qatar. .
Domestic credit from commercial banks increased 11.21% year-on-year to reach QR 1.11 billion in April this year.
Credit to the public sector in local and foreign currencies was QR 123.23 billion and QR 46.53 billion, showing strong growth of 91.33% and 4.26% respectively during the period considered.
Credit to semi-governmental institutions in local and foreign currencies recorded strong growth of 47.22% and 16.59% year-on-year to QR 4.13 billion and QR 11.33 billion respectively.
Credit to private sector companies in local and foreign currencies increased 5.83% and 2.8% to reach QR 258.92 billion and QR 192.83 billion respectively in April 2021.
Credit to government institutions denominated in local currency declined 0.32% year-on-year to QR 73.97 billion; while those in foreign currencies gained 8.39% to reach RQ 132.84 billion during the period considered.
In terms of performance by segment, services grew by 12.14% and 4.37% in local and foreign currencies to QR 118.44 billion and QR 219.61 billion respectively in April 2021.
Within services, general service credit in local and foreign currency increased 13.49% and 4.67% to reach QR 89.36 billion and QR 211.66 billion respectively in April.
Credit to financial services in local currency increased 8.18% year-on-year to QR 29.08 billion; while that in foreign currencies fell 3.05% to QR 7.95 billion in April of this year.
Credit to the real estate sector denominated in foreign currencies saw a substantial increase of 51.98% year-on-year to QR 32.98 billion, while that in local currency decreased by 1.13% to QR 173.88 billion during the period under review.
Consumer loans in local currency increased 13% year-on-year to QR 153.19 billion, while those in foreign currencies declined 4.21% to QR 3.87 billion in April 2021.
Credit to Qataris in local currency grew 17.57% year-on-year to QR 142.45 billion, while that in foreign currency declined 4.22% to QR 3.86 billion over the past year. the period considered.
In the case of non-Qataris, local currency credit declined 25.4% annually to QR 10.75 billion; while that in foreign currency was stable at QR 0.01 billion in April 2021.
The local and foreign currency trading credit segment increased by 1.35% and 3.09% to reach QR 80.79 billion and QR 79.08 billion respectively in April.
Credit to the industrial segment in local currency saw a strong increase of 42% year-on-year to 7.37 billion QR; while that in foreign currencies decreased by 17.01% to reach QR 18.44 billion in April of this year.