Mubasher: Loans provided by commercial banks operating in Qatar fell by 1.1% year-on-year in October to QAR 937.39 billion ($259.12 billion) from QAR 948.19 billion ($262.1 billion) in September, data showed on Wednesday.

The decrease came on the back of a 4.08% decline in the value of loans given to the public sector to QAR 342.60 billion last month from QAR 357.19 billion the month before, the Qatar Central Bank (QCB) said.

Loans provided to non-banking financial institutions dropped 10.29% month-on-month to QAR 14.90 billion from QAR 16.61 billion in September.

On the other hand, loans provided to the private sector edged up 0.96% to QAR 579.88 billion in October from QAR 574.39 billion in previous month.

Assets for commercial banks operating in Qatar previously declined 1.4% to 1.384 trillion in October from QAR 1.404 trillion in September.