Tuesday 5 July 2022

QNB shareholders approve capital bonds

DOHA, February 1, 2016

Qatar National Bank (QNB), the largest lender in the Gulf Arab region, said on Sunday its shareholders had approved the issuance of capital-boosting bonds.

QNB's shareholders granted the bank permission to issue bonds, which could either enhance its core Tier 1 capital or its supplementary Tier 2 capital, at a meeting on Sunday.

The meeting also approved the appointment of Ernst & Young as auditors for the year 2016, a QNB statement said.

QNB said on Jan. 13 that its board had approved issuing the Basel III-compliant bonds to maintain its reserves above regulatory minimums and support future growth. – Reuters

Tags: Qatar National Bank | QNB |

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