Commercial Banks' Assets in Qatar Grow 11% to 1.77 Trillion Qatari Riyals

The assets of commercial banks operating in Qatar grew by 11.5% year-on-year in June, reaching 1.77 trillion Qatari Riyals, the highest ever recorded, according to data from the Qatar Central Bank. The annual growth in the assets of commercial banks in Qatar last month was supported by an increase in domestic credit to 1.13 trillion Qatari Riyals and a 14% growth in local investments, amounting to 214.4 billion Qatari Riyals. Data from the Qatar Central Bank showed that commercial banks' reserves remained stable last month at the same levels as June of the previous year, at 87.5 billion Qatari Riyals. The assets of Qatar National Bank (QNB) represent 60% of the total assets of banks operating in Qatar, amounting to 1.07 trillion Qatari Riyals at the end of June 2021.