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Qatari bank shares stabilise as loan growth booms

In Doha, the QE Index gained on Tuesday by 0.46% to reach 8,444.67 points. Bank shares gained further ground, with Qatar National Bank, Doha Bank and Al Ahli Bank ending flat. Qatar Islamic Bank (up 0.87% at QR80.90) and International Islamic Bank (advancing 1.66% at QR55) helped lifting the market index. According to National Bank of Abu Dhabi (NBAD) research, loans to the private sector in Qatar grew 2.2% month-on-month in August, while personal loans advanced 20.6% year-on-year. Qatar banking sector assets were estimated by NBAD at $167.5bn, up 19.9% year-on-year and -1.6% month-on-month.