Qatar commercial banks' assets up 3.3% to $560bln in January
In a post on its X platform, QCB revealed the developments in banking sector and the key banking sector indicators in January this year compared to last year. The key highlights from January 2025 monthly monetary bulletin showed that the total assets of commercial banks witnessed year-on-year expansion by 3.3 percent to reach QR2.04 trillion.
There was also an increase of 0.6 percent in the total domestic deposits on yearly basis to reach QR837.3bn in January this year. While the domestic credit in January 2025 grew by 3.6 percent year-on-year to QR1.31 trillion.
QCB post further stated that the total broad money supply (M2) decreased by 0.7 percent to reach QR729.9bn in January 2025 on a year-on-year basis.
Qatar has been following the Qatar National Vision 2030 (QNV) long-term development plan, which outlines the objective of economic diversification, with financial services – including banking – playing a pivotal role in this endeavour. Consistent with this vision, the QCB itself has published a series of long-term strategies with the release of the Third Financial Sector Strategic Plan. This plan for the sector aligns with and complements the broader goals of the (NDS-3).
The NDS-3 outlines seven strategic national objectives for the coming period, ranging from sustainable economic growth, to quality of life and societal cohesion. The achievement of sustainable economic growth hinges on diversifying away from hydrocarbons, with a number of clusters proposed for this purpose. These clusters are further categorised into growth, enabling, resilience and future clusters, with financial services seen as one of three enabling factors.
The banking sector is undergoing a transformative shift, adapting to global economic trends and embracing technological advancements. This evolution is marked by a commitment to risk management, FinTech innovation, and international standards, positioning the sector for sustained growth and stability.
In recent years, the banking sector in Qatar has been characterised by continuous growth and stability, which has consolidated its position as a major player in the regional financial landscape.
To maintain the sustainability of this progress, the country's regulators have always actively played their part, relentlessly adapting to evolving economic conditions and international standards.
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