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Moody's affirms QNB ratings with stable outlook

Moody's affirms QNB ratings with stable outlook
Photo credit: Arabianeye - Reuters
QNB
QNBK
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Doha-Mubasher: Moody's Investors Service affirmed on Monday Qatar National Bank's (QNB's) Aa3 deposit ratings with a stable outlook, and the bank's baa1 baseline credit assessment.

The rating came after QNB acquired a 99.81% stake owned by National Bank of Greece in Turkey’s Finansbank in a 2.7 billion euros move that will be completed in the first half of 2016.

Moody's expects that QNB will maintain sizeable liquidity buffers on its balance sheet, with an estimated ratio of liquid banking assets over tangible banking assets of 22% as of December 2015.