Qatar's CBQ Has Plan B to Boost Buffers If UAB Stake Sale Fails - Bloomberg:
Commercial Bank of Qatar plans to use retained earnings to bolster capital if it can’t sell its stake in a United Arab Emirates-based bank, Chief Executive Officer Joseph Abraham said.
Qatar’s third-largest lender by assets has one of the weakest capital buffers among publicly traded banks in the gas-rich country, according to data compiled by Bloomberg. Abraham said in an interview that CBQ, as the Doha-based bank is known, plans to raise the so-called common equity Tier 1 ratio to as much as 11.5 percent from the current level of 9.7 percent.
“I’d say over the next one year to 18 months we should be getting to that position,” he said in Doha.
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