Latest news with #commercialbanks
Zawya
23-07-2025
- Business
- Zawya
Qatar banks' total assets reach $565bln
Doha: Qatar's banking sector showed resilience and expansion as the total assets of the sector increased by 1 percent year-to-date (YTD) in May 2025, reaching QR2.067 trillion. Meanwhile the total assets edged lower by 0.2 percent month-on-month (M-o-M) in May. The total assets moved up by 1 percent in 2025 compared to a growth of 3.9 percent in 2024. The assets grew by an average 5.7 percent over the past five years (2020-2024). The liquid assets to total assets stood at healthy 30 percent both in May and April 2025, according to a report released by QNB Financial Services (QNBFS). The monthly report highlighted the total assets, loans, and deposits in May this year. The sector's loans were marginally down by 0.5 percent MoM to reach QR1,377.8bn in May this year. This decrease in loans was mainly due to a decline of 2.8 percent in the public sector loans. The loans went up by 2.3 percent in 2025 compared to growth of 4.6% in last year. While loans grew by an average 5.4 percent over the past five years (2020-2024) and the loan provisions to gross loans remained flat at 4 percent in May 2025 versus April this year. The loan book of Qatar's banks witnessed a 2.3 percent increase year-to-date (YTD) in 2025 and 0.5 percent decline on monthly basis. The deposits by commercial banks declined by 0.9 percent during May 2025 to reach QR1,033.2bn. The deposits drop in May this year was mainly due to fall by 0.7 percent in public sector deposits and dip by 1.5 percent in non-resident deposits. The deposits inched up 0.6 percent in May 2025, compared to an increase by 4.1 percent in 2024. They grew by an average 3.9% over the past five years (2020-2024). In May 2025, the public sector deposits contributed 35.1 percent to the total deposits, private sector (46 percent) and non-resident (18.9 percent). The overall loan book expansion in May was primarily driven by increased lending to both the public and private sectors. Public sector loans grew by 3.2 percent YTD and recorded a decline of 2.8 percent MoM. Within this category, loans to the government segment accounted for 6.9 percent of total public sector loans. The government institutions saw an increase of 2.5 percent YTD and 0.1 percent MoM. However, loans to semi-government institutions declined by 10.4 percent YTD, and grew by 1.4 percent MoM in May this year. The private sector loans also increased by 2.2 percent YTD in May and grew by 0.6 percent on monthly basis. The key drivers of private sector loan growth included the contractors, real estate, consumption and others and services segments. The contractors segment saw an impressive increase of 9 percent YTD and grew by 0.9 percent MoM. The real estate sector saw a growth of 2.6 percent YTD and increase of 1 percent MoM. Meanwhile, loans to general trade, consumption and others and services sectors increased by 3.4 percent, 0.8 percent, and 1.3 percent YTD. The total domestic credit facilities saw an increase by 2.5 percent YTD but the lending activities outside Qatar saw a decline of loans by 1.2 percent YTD. The loans to deposits ratio moved up to 133.3 percent as of May 2025. The loan provisions to gross loans remained flat at 4 percent as at May this year versus April 2025. While the loan provisions have increased from 2.4 percent in 2020 to 4 percent in 2023 and stood at 4 percent as of May this year as banks have been provisioning for Stage 2 and Stage 3 Loans mainly emanating from contracting and real estate sectors, the data revealed. On the deposits side, the public sector deposits increased by 1.6 percent YTD and recorded a decline of 0.7 percent month-on-month. The government segment of the public sector deposits saw a growth of 0.8 percent in 2025 and MoM. The government institutions grew 3.6 percent over the year and declined by 1.4 percent MoM. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Arab News
17-07-2025
- Business
- Arab News
Pakistan sees $16 million in online animal sales during Eid — central bank
KARACHI: Pakistanis spent more than 4.7 billion rupees (approximately $16.3 million) on sacrificial animals through digital transactions during Eid-ul-Azha this year, the State Bank of Pakistan (SBP) said on Tuesday, highlighting a growing shift toward cashless commerce in one of the country's most traditional and informal markets. The digital sales were part of the central bank's 'Go Cashless in Cattle Markets Campaign 2025,' launched to promote financial inclusion and reduce cash handling during the three-day religious festival that began on June 7. The annual holiday, also known as Eid Al-Adha, marks the Islamic ritual of animal sacrifice, during which millions of Pakistanis buy goats, cows, and camels, often in large, informal marketplaces. The SBP said the campaign was implemented in collaboration with 24 commercial banks and covered 54 major cattle markets across the country. 'The campaign was successfully implemented in 54 major cattle markets across Pakistan, resulting in 64,553 transactions valued at Rs 4.656 billion,' the central bank said in a statement. Eid-related animal trade represents a significant part of Pakistan's informal economy. By introducing digital payment options in livestock markets, the central bank aims to improve financial transparency and support the government's broader goal of documenting the cash-based economy. Pakistan is currently under a $7 billion loan program with the International Monetary Fund (IMF), which encourages reforms including digitization of financial services to boost tax collection and economic stability. 'Digital payment systems play a vital role in modern economies by offering transparency, reducing fraud risks, and providing secure, convenient, and inclusive access to financial services,' the SBP said. It added that such initiatives were crucial for building trust and driving adoption of digital platforms, especially among underserved groups like livestock traders. The central bank said feedback from buyers and sellers in the cattle markets was positive, with participants appreciating the reduced reliance on physical cash. 'This campaign was highly appreciated by the buyers and sellers in the cattle markets, as it reduced their reliance on cash,' the bank noted. Najeeb Ahmed Warsi, head of online trading at Foundation Securities Ltd, called the initiative a meaningful step toward modernizing Pakistan's financial landscape. 'This campaign is more than just numbers, it's a clear step forward in Pakistan's journey toward a digitally-driven, cashless economy,' he said. 'By digitizing traditional markets, we're building trust, increasing financial inclusion, and setting the stage for a safer, smarter financial ecosystem.' Warsi noted that the partnership between 24 commercial banks and the central bank allowed the initiative to scale effectively across the country. 'This groundbreaking initiative earned widespread praise from both buyers and sellers, who welcomed the shift from cash to digital payments, and transparency during one of the busiest market seasons,' he added. The SBP said it would continue fostering collaborations across the financial sector to further Pakistan's transition to a digitally inclusive economy.
Zawya
15-07-2025
- Business
- Zawya
Central Bank of Oman issues treasury bills worth over $26mln
Muscat: The Central Bank of Oman (CBO) announced Monday that the total value of government treasury bills allocated this week amounted to OMR 10.25 million. The bank explained in a statement today that these bills are allocated for a maturity period of 91 days, with an average accepted price of OMR 98.941, and a minimum accepted price of OMR 98.930 per OMR 100. The average discount rate was 4.24871 percent, and the average return was 4.29421 percent. The statement indicated that the interest rate on repurchase operations with the CBO on these bills is 5 percent, while the discount rate on the CBO treasury bill facility is 5.50 percent. Treasury bills are a short-term, secured financial instrument issued by the Ministry of Finance to provide investment opportunities for licensed commercial banks. The CBO acts as the issue manager for these bills. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Times of Oman
14-07-2025
- Business
- Times of Oman
Oman's central bank issues treasury bills worth OMR10.25 million
Muscat: Oman's central bank has issued treasury bills worth OMR10.25 million on Monday. The value of the allotted Treasury bills amounted to OMR10.25 million, for a maturity period of 91 days. The average accepted price reached OMR98.941 for every OMR100, and the minimum accepted price arrived at OMR98.930 per OMR100. The average discount rate and the average yield reached 4.24871% and 4.29421%, respectively. Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager and provides the added advantage of ready liquidity through discounting and repurchase facilities (Repo). It may be noted that the interest rate on the Repo operations with CBO is 5.00% while the discount rate on the Treasury Bills Discounting Facility with CBO is 5.50%.
Times of Oman
12-07-2025
- Business
- Times of Oman
Credit granted by banks in Oman to private sector rises
Muscat: An analysis of the activities of conventional commercial banks indicated continued credit growth in the Sultanate of Oman, with the total credit granted by banks increasing by a robust 6.9 percent during May 2024 to May 2025. The credit granted by the banks in Oman to the private sector, increased by 5.2 percent to reach OMR21.4 billion by the end of May 2025. Total investments of conventional commercial banks in securities decreased by 1.7 percent to approximately OMR5.5 billion by the end of May 2025. Within this group, investment in government development bonds (GDBs) increased by 2.2 percent reaching OMR2 billion by the end of May 2025compared to the same period last year. The investments in foreign securities decreased by 11.9 percent reaching OMR2 billion by the end of May 2025. On liabilities side, total deposits at conventional commercial banks increased by 5.7 percent to reach OMR25.2 billion by the end of May 2025. Within this, government deposits with commercial banks rose by 11 percent to approximately OMR5.7 billion, while deposits with public sector institutions decreased by 1.7 percent to approximately OMR1.7 billion.
