Lending in Qatar grew 23% in 2013: report

February 24, 2014 1:49 am

Qatar National Bank (QNB) has said lenders in the country have reported strong results in 2013, supported by higher lending associated with large infrastructure projects, a low cost of funding and foreign acquisitions, Gulf Times has reported. Loan growth in Qatar last year was 23%, while deposit growth jumped by around 24%, with the public sector being the key driver for overall gains, reflecting the large fiscal surplus. Higher lending, a low-cost base and low provisioning requirements have all supported the banks’ overall profitability, with a return on equity of 16% in 2013, the QNB report said.