Capital Intelligence upgrades the Long Term Foreign Currency and Standalone ratings of Doha Bank

Capital Intelligence (“CI”), the international emerging markets rating agency, yesterday announced an upgrade of Doha Bank’s Long Term Foreign Currency Rating from A- to A and the Financial Strength rating from A- to A, while affirming the Support Rating.

H.E. Sheikh. Fahad Bin Mohammed Bin Jabor Al-Thani, Chairman of the Bank echoed the sentiments of Capital Intelligence, confirming the intrinsic strength of the bank, is the lynchpin of its sound asset quality and sustained profitability, which is the corner stone of its progress as it strives to service its growing client base and their banking requirements.

The Long Term rating of A by CI denotes the high credit quality and low credit risk of the bank and its strong capacity to meet its financial commitments in a timely manner. CI adds, the bank has carved a niche for itself, as a front runner in the retail and trade finance sectors and is now building on the platform it has established.

H.E. Sheikh Abdul Rahman Bin Mohammed Bin Jabor Al Thani , the Managing Director added, it is the vision of the Board of the bank to expand globally and set its international footprint, recognizing Qatar is a small market and the opportunity to foster business with countries that have trade links with the GCC in general and Qatar in particular.

The rating agency assigned a support rating of 3, recognizing the systemic importance of the bank in the local Qatari market.

 

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