Doha Bank Plans to Hold Off Paying Dividends For the Near Term - Bloomberg

Doha Bank Plans to Hold Off Paying Dividends For the Near Term - Bloomberg:

Doha Bank QPSC will hold off paying dividends for the near term and focus on consolidating its capital after the Qatari lender posted a fourth-quarter loss.

“We have reasons to believe we’ll continue to perform well and start paying dividend as we deem fit,” Raghavan Seetharaman said in an interview with Bloomberg TV on Tuesday.

Doha Bank last week said it was reducing the “2019 dividend to zero to enhance capital and reserves.”

The bank’s quarterly loss was “solely attributable” to a surge in provisions and impairments to the highest level in the bank’s operating history.