Fitch upgrades Doha Bank’s outlook to stable from negative

Fitch Ratings has upgraded the outlook of Doha Bank from ‘Negative’ to ‘Stable’ and affirmed the long-term Issuer Default Ratings (IDR) at ‘A’.

The upgrade to stable, follows the revision of the Qatari sovereign’s Outlook to Stable from Negative and affirmation of the country’s Long-Term IDR at ‘AA-’, and reflects Fitch’s view that Qatar has successfully managed the fallout from last year’s rupture of trade, financial and diplomatic relations with the Arab quartet consisting of the UAE, Saudi Arabia, Bahrain and Egypt.

Public sector liquidity injections have stabilised the banking sector and stemmed the outflow of non-domestic funding.