Qatar’s banking sector recorded solid expansion, with total assets rising 1% month-on-month in November 2025 to reach QR2.148 trillion, according to QNB Financial Services (QNBFS).
The sector’s assets grew 5% year-on-year in November 2025, higher than the 3.9% growth recorded in 2023/2024, and averaged 5.7% growth annually over the past five years (2020–2024). Liquid assets accounted for a healthy 30% of total assets during the month.
Total loans increased 0.5% month-on-month to QR1.435 trillion in November, supported by stable lending to the private sector and growth in international loans, although public sector lending declined 0.6%. Overall, loans expanded 6.6% year-on-year in November 2025, compared with 4.6% growth in 2024, and averaged 5.4% annual growth between 2020 and 2024.
Meanwhile, commercial bank deposits fell 1.6% month-on-month to QR1.058 trillion in November 2025. Public sector deposits rose 3.7% during the month, whilst private sector deposits grew 4.1% in 2024. Deposits increased at an average annual rate of 3.9% over the past five years.
Public sector deposits accounted for 35.7% of total deposits in November, followed by the private sector at 46.1% and non-residents at 18.2%. The loan-to-deposit ratio eased slightly to 136% in November 2025 from 137% in the previous month.
Loan provisions to gross loans remained unchanged at 4.2% during the period. Provisions have gradually risen from 2.4% in 2020 to 4% in 2023, reaching 4.2% by November 2025, largely due to provisioning for Stage 2 and Stage 3 loans, particularly in the contracting and real estate sectors.
Separately, Capital Intelligence Ratings reaffirmed Qatar’s Long-Term Foreign and Local Currency Ratings at ‘AA’, and Short-Term ratings at ‘A1+’, maintaining a stable outlook. The ratings reflect Qatar’s strong external and public finances, supported by favourable liquefied natural gas prices, as well as the country’s ability to withstand external shocks due to significant foreign asset holdings through the Qatar Investment Authority and its strong net external creditor position.
The ratings are also underpinned by substantial hydrocarbon reserves, ongoing expansion of LNG production and export capacity, high GDP per capita, and growing official foreign reserves.
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