QNB: Qatar's Banking Sector Remains Strong

Doha, May 07 (QNA) - Qatar's Banking Sector continues to grow strongly, according to a QNB Capital review. Total Assets witnessed a compound annual growth rate (CAGR) of 30% between March 2007 and March 2011 to reach QR577.2bn ($158.6bn).
Total Assets of the Qatari banking sector increased by 18.4% year-on-year (y-o-y) as at March 2011, compared to March 2010 and by 21.0% as at March 2010, compared to March 2009, at a time when the banking sectors of many countries around the world were decreasing in size. Total Assets of conventional banks grew by 17.3% y-o-y to reach QR410.6bn as at March 2011, compared to March 2010, while that of Islamic banks moved up by 35.8% to reach QR126.8bn, and that of foreign banks declined by 12.3% to QR35.4bn.
The credit quality of the Qatari banking sector continues to be high, with the sector showing a non-performing loans (NPL) ratio of just 2.0% as at year-end 2010, according to QCB data. Loans and advances of the Qatari banking sector showed a CAGR of 29% between March 2007 and March 2011.
Loans and advances of the Qatari banking sector grew by 8.5% y-o-y to reach QR314.4bn as at March 2011, compared to March 2010. Loans and advances of conventional banks went up by 8.2% y-o-y to reach QR229.8bn as at March 2011, while that of Islamic banks increased by 11.2% to reach QR70.1bn, and that of foreign banks edged lower by 1.7% to QR13.4bn.(QNA)