Qatar’s economic growth may be normalising in the post-Fifa World Cup era, but the country’s banks continue to be buoyed by high interest rates and opportunities from its growing gas infrastructure, balancing out a reduction of government credit.
Sector-wide net profits climbed by 7.5 per cent in 2023, according to KPMG, supported by relatively sound net interest margins as lenders moved to reprice their assets against rising interest rates. This carried through to the first quarter of 2024, where most banks maintained positive momentum.
