Doha Bank plans capital raise next year
Kuwait, May 21, 2014
Doha Bank is planning to raise additional capital in 2015 as it bolsters its reserves due to high growth rates and potential acquisitions, the chief executive of Qatar's fourth-largest bank by assets said on Wednesday.
"If our organic expansion is per the growth model we envisage, then we will need additional capital, which we will mobilise next year," CEO R Seetharaman told reporters at a news conference in Kuwait.
Both Doha Bank and Commercial Bank of Qatar may need to raise as much as QR1.5 billion ($412 million) of Tier 1 - or core - capital in 2015 to help meet stringent limits set down by the Qatar Central Bank, Morgan Stanley said in an analyst note this week. - Reuters