Capital Intelligence Capital Credit Agency confirmed the credit ratings of Qatar National Bank QNB, runway and trading on the Qatar Stock Exchange with a stable future outlook.
The company kept the classification of long-term assets denominated in foreign currencies at the degree of “AA”, classification of short-term assets at “A1” degree, and classification of the bank’s independence at “-A”.
The classification of the main financial position standard has also been confirmed at the degree of “-” and the exceptional support level at “very high”.
The bank’s classifications are a reflection of the strong ability of the Qatari government to provide exceptional support when needed, thanks to its reliable record in supporting local banks, especially the Qatari National Bank.
Government support to Qatar National Bank includes transferring real estate loans to the state, pumping additional capital, and enjoying a strong government contribution base.
In order to reinforce this, the sovereign classifications of the State of Qatar show a long -term and A1 + + + + +degree and a stable Stable look, and a strong ability to maintain economic stability in the country.
The independent bank classification depends on multiple factors, the most prominent of which is the strength of its financial position, domination of the local market, the quality of assets, and its ability to absorb losses, as well as stable profitability and strong capital, and in return, the agency believes that the bank faces some challenges such as the limited local market and the concentration of loans, as well as its great dependence on international financing.
Qatar National Bank is the largest banking institution in Qatar and one of the most prominent players in the regional and international banking sector, with its commitment to growth and sustainability strategies, and it was established in 1964 to become the first commercial bank in Qatar, and its shares were listed on the Qatar Stock Exchange in 1997.
