Doha Bank QSC, Qatar’s fifth-largest lender by market value, may make an acquisition before the end of 2012 as part of a broader plan to expand, Chief Executive Officer Raghavan Seetharaman said.
“It could be in Turkey, it could be emerging markets, we are looking at other options,” Seetharaman said in an interview in Dubai yesterday. “We are going to grow, and it’s a goal in line with the overall financial stability of Qatar.”
Qatar, the world’s biggest exporter of liquefied natural gas, forecasts its economy may expand by about 16 percent this year, helped by fuel exports. Doha Bank reported a 10 percent jump in third-quarter profit last month to 308 million riyals ($85 million). Qatar National Bank SAQ, the country’s largest lender, had a 31 percent increase in the period.
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