According to a report by QNB Financial Services, loan growth of banks in the country outpaced deposit growth in May, the Peninsula has reported. After posting a growth of 0.6% month-on-month in April, loans climbed 0.4% month-on-month in May, primarily due to pick-up in credit off-take from the international segment. “Going forward, we expect the public sector, in addition to large corporate loan growth to be the primary drivers of the overall loan book in 2014 followed by the SMEs and consumer lending. Our view is based on the expected uptick in project mobilisations in the coming months,” QNB Financial Services said in its monthly banking sector update.
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