“Central Bank”: Domestic credit growth was 4.7% in April

Written By Mark

Qatar Central Bank data revealed that the main indicators of the banking sector achieved growth during the month of April 2024 compared to the same month last year.
Data issued by the Qatar Central Bank showed an increase in total local deposits with banks operating in Qatar during the month of April by 7.3% on an annual basis to about 840.2 billion riyals.
Domestic credit also recorded an increase of 4.7% during the same month, reaching about 1.25 trillion riyals.
The total assets of commercial banks also recorded a growth of 3.7%, reaching about 1.96 trillion riyals.
In this context, local liquidity, represented by the money supply (M2), increased by 5.7% to reach about 736 billion riyals.
The international reserves and liquidity in foreign currency of the Qatar Central Bank increased last April, by 4.68 percent, to reach 248.202 billion riyals, compared to 237.095 billion riyals in the same month of 2023.
Data issued by the Central Bank showed an increase in its official reserves at the end of last April, compared to what they were at the end of the same month in 2023, by about 10.377 billion riyals, to reach 189.262 billion riyals, as a result of the increase in the Central Bank’s balances of bonds and foreign treasury bills by about 1.887 billion riyals, to the level of 138.276 billion riyals in April 2024.
Official reserves consist of main components: foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, Special Drawing Rights deposits, and the State of Qatar’s share in the International Monetary Fund.
Other liquid assets (representing deposits in foreign currency) are added to the official reserves, so that the two together form what is known as total international reserves.
Gold stocks increased by the end of last April by about 6.646 billion riyals, compared to April 2023 to 28.024 billion riyals.
Balances with foreign banks also increased by about 2.007 billion riyals, to the level of 17.804 billion riyals at the end of April this year, compared to April of 2023.
On the other hand, the balance of Special Drawing Rights deposits from the State of Qatar’s share with the International Monetary Fund declined by the end of last April by 163 million riyals, compared to April 2023, reaching the level of 5.157 billion riyals.