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26/03/2017 04:10 AST
Capital Intelligence ratings affirmation on Doha Bank recognises the bank’s “sustainable business model in response to changing market conditions in Qatar and overseas,” CEO Dr R Seetharaman has said.
CI Ratings, the international credit rating agency, announced last week that it has affirmed Doha Bank’s (DB) Financial Strength Rating (FSR) at ‘A’.
The principal supporting factors are the bank’s good capital base (currently being further augmented by a rights issue) and good overall asset quality. While the NPL ratio is above average for the peer group, so is the more than full loan-loss reserve coverage, and taken together, the asset quality position is seen as being sound.
Based on the “still strong” Qatari government balance sheet and the “significant shareholding” of the Qatar Holding company in the bank, together with the “strong record” of governmental systemic support for banks, the support rating is affirmed at ‘2’.
Reflecting this support and the improved outlook on Qatar’s long-term foreign currency sovereign rating of ‘AA-’/’Stable’, the bank’s long-term foreign currency rating (FCR) is raised to ‘A+. The’ short-term FCR is affirmed at ‘A2’. The outlook on the FCR is also revised to ‘Stable’.
Gulf Times
04/04/2018
Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o
The Peninsula
15/03/2018
Doha Bank has unveiled the latest release of the new co-branded mobile application ‘Doha Bank My Book Qatar’ on Apple App Store and Google Play Store.
The feature-packed mobile app brings
The Peninsula
08/03/2018
Doha Bank shareholders yesterday approved the board’s proposal to issue bonds up to $2bn under Euro Medium Term Note (EMTN) programme as part of efforts to source cost effective long-term funds.
Gulf Times
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
05/04/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
04/04/2018
Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o
The Peninsula
04/04/2018
Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than
Gulf News