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FINANCIAL NEWS
Doha Bank to raise capital by 20pct
07 Mar 2017
(MENAFN) Doha Bank’s Assembly meeting approved Bank’s plan to increase the paid-up capital by 20 percent from QR2.58bn to QR3.1bn amid a right issue.
Accordingly, the Assembly confirmed to increase the bank’s capital from QR2.58bn to more than QR3.1bn by way of offering 51.67mn new ordinary shares.
However, there are challenges faced by Capital markets in the area due to the current substantial drop in oil prices in addition to the political uncertainty.
Furthermore, Qatar has the capabilities to overcome these problems and difficulties and it looks forward to launching many development projects in the coming years.
MENAFN0703201700450000ID1095296196
MENAFN0703201700450000ID1095296196
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