Doha, Qatar: The total assets of commercial banks operating in Qatar saw an increase in February 2025 reaching over QR2 trillion according to official data released by Qatar Central Bank (QCB), yesterday.
QCB revealed in a post on its X platform the developments in banking sector and the key banking sector indicators in February this year compared to last year. The key highlights from February 2025 Monthly Monetary Bulletin showed that the total assets of commercial banks witnessed year-on-year expansion by 4.7 percent to reach QR2.06 trillion.
There was also an increase of 1.2 percent in the total domestic deposits on yearly basis to reach QR855.5bn in February this year. While the domestic credit in February 2025 grew by 4.7 percent year-on-year to QR1.32 trillion.
QCB post further stated that the total broad money supply (M2) decreased by 1.1 percent to reach QR739bn in February 2025 on a year-on-year basis.
According to a recent report by KPMG on Qatar’s banking sector, it reaffirms Qatar National Bank’s position as the largest bank in the GCC by assets, reaching $356bn. Qatar also continues to lead the region with the lowest cost-to-income ratio at 25.6 percent and the highest coverage ratio for stage 3 loans at 85.1 percent, reflecting strong financial resilience.
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.
The banking industry in Qatar is also at the forefront of embracing Environmental, Social, and Governance (ESG) principles. Qatari banks are key players in driving sustainable development and social responsibility.
By issuing green bonds and loans, they are not only prioritising financial gains but also focusing on benefiting the environment. With a sharp focus on sustainability, financial institutions are launching green bonds, eco-friendly loans, and social responsibility initiatives, reflecting their dedication to sustainable investment and environmental conservation.
