We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

Latest News

Qatari bank provisions rise 2.2 pct m/m in July

Loans grew 1.6 percent.


August 18, 2010 8:53 by

Provisions made by Qatari banks rose 2.2 percent month-on-month in July, slower than in the previous month, while loans grew 1.6 percent, data from the Gulf country’s central bank showed on Tuesday.

Total provisions in the world’s largest liquefied natural gas exporter increased to 6.38 billion riyals ($1.75 billion) at the end of July, after rising 4.6 percent in the previous month.

Monthly growth in specific loan provisions slowed to 2.0 percent, from 5.3 percent in June, the data showed.

Some Qatari banks have taken large provisions for exposure to debt-ridden Saudi family firms in the past; while the government pumped funds into the sector last year to keep it stable following the global credit crunch.

Bank loans rose to 262.6 billion riyals in July, after increasing by 1.7 percent month-on-month at the end of June, and were 30 percent higher than a year ago, the data showed.

Major Qatari banks reported robust results in the second quarter, with Qatar National Bank posting a 35 percent jump in quarterly profit. Commercial Bank of Qatar reported a 23 percent increase in the second-quarter profit.

The Qatari government spent about 6.5 percent of the Gulf state’s gross domestic product last year on capital injections and other measures to maintain stability in the sector.

Total assets in the OPEC member’s banking sector rose 1.5 percent month-on-month to 513.1 billion riyals in July, the data showed.

(Reporting by Regan E. Doherty)


Tags: , ,

Leave a Comment