Mubasher: Deposits at banks operating in Qatar decreased by 1.11% month-on-month, or QAR 8.8 billion, in May, the Qatar Central Bank’s (QCB) data showed on Tuesday.

Total deposits amounted to QAR 785.43 billion ($215.76 billion) in May, compared to QAR 794.26 billion ($218.18 billion) in the month before.

The drop of deposits was attributed to a 1.35% decline in non-residents' deposits to register QAR 140.06 billion last month, versus QAR 141.98 billion in April.

Qatar’s private sector deposits levelled down 1.97% to QAR 297.62 billion in May, against QAR 303.61 billion a month earlier.

Deposits of non-financial institutions in the gas-rich nation tumbled 8.8%, reaching QAR 25.05 billion in May, compared to QAR 27.47 billion during April.

Year-on-year, deposits at the Qatari banks increased by 3.04% to QAR 785.43 billion in the previous month, from QAR 762.21 billion in May 2017.