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FINANCIAL NEWS
Qatar’s commercial bank signs USD 1bn loan
09 Dec 2015
(MENAFN) Commercial Bank, the major private sector investor in Qatar, signed a new USD 1bn loan facility, which was syndicated to its central relationship banks.
Furthermore, the profits from the facility, paying a margin of 85 points, will be used to refinance the current debt, including prepayment of the two-year tranche of USD 600mn.
Additionally, the bank plans to focus on return on capital and increase market share and cross-sell as well as enhance yields.
Moreover, the bank stated net profit of USD 0.36mn and whole assets of USD 32.7mn over the Jan-Sep period of 2015.
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