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24 April 02:24 PM

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27 August 2023 01:56 PM Qatar’s QNB expands operations in Saudi Arabia
Mubasher: Qatar National Bank (QNB) Group has opened its second branch in Saudi Arabia to boost its presence in the region. The new office is located in the port city of Jeddah, where the lender will offer solutions for its retail and corporate …
Companies Investments
The Middle East listed banks reduce competition and increase their expertise
16 June 2021 11:02 AM Saudi Arabia, UAE dominate Forbes Middle East’s top 50 listed banks
Mubasher: Saudi and Emirati banks had the most entries in Forbes Middle East’s Top 50 Banks in The Middle East list for 2021 with 10 financial institutions each. Qatar National Bank topped the region’s listed banks with profits of $3.3 billion and …
Sector Reports
KIB will manage QIIB’s $300 million sukuk issuance
2 December 2019 04:42 PM KIB named as manager of QIIB’s $300m sukuk issuance
Mubasher: Kuwait International Bank (KIB) was chosen to manage for Qatar International Islamic Bank’s (QIIB) Sukuk issuance, the first of its kind in Qatar, according to the Kuwaiti lender’s press release. KIB will manage QIIB’s $300 million …
Sukuk and Islamic Finance
The loan will be used to finance property projects
4 October 2019 06:01 PM NBE, QNB provide EGP 1.7bn loan to Egyptian developer
Cairo – Mubasher: The National Bank of Egypt (NBE) and Qatar National Bank (QNB) have signed EGP 1.7 billion syndicated credit facility agreement with Redcon Construction Company, according to a statement. The loan will be used to finance the …
Banking and Finance
Total assets recorded $2.19 trillion in H1-19
26 August 2019 03:38 PM GCC banks’ assets hit $2.2trn in H1
By: Bedour Al Raee Mubasher: Assets of banks operating in the GCC increased by 9.13% year-on-year during the first half of 2019. Total assets recorded $2.19 trillion in H1-19, compared to $2.01 trillion in H1-18, according to Mubasher statistics. …
Macroeconomics
Emirati banks led the region in terms of profits
20 August 2019 09:29 PM GCC banks post $18.5bn profits in H1-19
By: Bedour Al Raee  Riyadh – Mubasher: A number of 61 banks in the GCC reported an 8.5% year-on-year profit hike during the first six months of 2019, recording $18.54 billion. Emirates NBD topped profitable banks in the GCC in H1-19, registering …
Banking and Finance
Risks facing the stock include geopolitical factors
2 May 2019 05:38 PM QNBFC research recommends buying of GBK’s stock
Mubasher: The research unit of the Qatar National Bank (QNB) on Thursday recommended the building of positions in Gulf Bank of Kuwait’s (GBK) stock, setting the target price at 345 fils per share. Since 17 December 2018, the stock grew 15%, which …
Trading Activities
The Qatari lender’s profits rose 5% year-on-year to QAR 13.8 billion during the full-year 2018
9 April 2019 02:22 PM QNB’s profit grows 4% in Q1-19
Mubasher: Qatar National Bank (QNB) on Tuesday reported a 3.8% year-on-year increase in net profit for the first quarter of 2019. Net profits of the largest bank in the Middle East and Africa amounted to QAR 3.56 billion ($986.46 million) in the …
Banking and Finance
LPS reached QAR 2.41 in the fiscal year ended 31 December 2018
27 March 2019 03:18 PM Qatar First Bank's loss falls 56% in Q4-18
Mubasher: Qatar First Bank (QFB) on Wednesday reported a 56.53% year-on-year loss drop in the fourth quarter of 2018. The Qatari lender’s losses amounted to QAR 56.36 million ($15.57 million) in the three-month period ended last December, compared …
Financial Results
QIB's funding profile is more balanced in the current time
26 March 2019 04:01 PM S&P affirms QIB’s rating, ‘Stable’ Outlook
Mubasher: The global credit rating agency Standard & Poor’s (S&P) has affirmed Qatar Islamic Bank’s (QIB) issuer credit rating at ‘A-/A-2’, with a Stable Outlook.  “The rating reflects our views of the bank’s robust corporate banking franchise and …
Ratings
The bonds will mature in five years
22 March 2019 00:38 AM QNB’s dollar bond issue oversubscribed by 3x
Mubasher: Qatar National Bank (QNB) on Thursday announced the issuance of $1 billion bonds under the bank’s medium-term note programme. The dollar-dominated bonds will mature in five years, with a 3.5% yield, the Qatar News Agency (QNA) reported. …
Bonds
The total value of the dividends amounts to QAR 607.09 million
21 March 2019 01:56 PM CBQ’s OGM approves QAR 607m dividends for 2018
Mubasher: The Commercial Bank of Qatar (CBQ) on Thursday announced that its shareholders had approved distributing 15% of the share’s nominal value, or QAR 1.5 a share, as a cash dividend for 2018 during an ordinary general meeting (OGM) held the …
Cash Dividends
The mandated banks include ANZ, Barclays Bank, Credit Agricole, Deutsche Bank, ING, QNB Capital, and Standard Chartered
21 March 2019 11:33 AM QNB hires 7 banks for dollar bond issue
Mubasher: Qatar National Bank (QNB) on Thursday announced the appointment of seven banks as joint lead managers for its dollar-denominated bond issue as part of its medium-term note programme. The mandated banks include ANZ, Barclays Bank, Credit …
Bonds
Asian investors made up 46% of the sukuk issue
20 March 2019 11:05 AM Qatar Islamic Bank completes $750mn sukuk issuance
Mubasher: Qatar Islamic Bank (QIB) on Wednesday announced the completion of issuing a $750 million five-year sukuk. Sukuk was priced at par with a profit rate of 3.982% and the order book was closed at $3.1 billion, representing 4.1 times …
Sukuk and Islamic Finance
Fitch has also maintained the Qatari lender’s viability rating at “bb+”
19 March 2019 11:16 AM Fitch affirms Doha Bank’s rating at “A”; outlook stable
Mubasher: Fitch Ratings has affirmed Doha Bank's long-term issuer default rating (IDR) at “A” with a stable outlook. The international rating agency has also maintained the Qatari lender’s viability rating at “bb+”, according to Doha Bank’s …
Ratings
The Qatar-based firm posted losses of QAR 5.39 million in Q4-18
18 March 2019 10:46 AM Dlala Brokerage reports QAR 21.3m loss in 2018
Mubasher: Dlala Brokerage and Investment Holding reported turning to loss for the fourth quarter of 2018, according to the firm’s statement to the Qatar Stock Exchange (QSE) on Monday. The Qatar-based firm posted losses of QAR 5.39 million ($1.48 …
Financial Results
The int'l rating agency affirmed the bank’s viability rating (VR)
16 March 2019 07:29 PM Fitch affirms QIIB’s ratings, outlook stable
Mubasher: Fitch Ratings had affirmed the long-term issuer default rating (IDR) of Qatar International Islamic Bank (QIIB) at ‘A’, with a stable outlook. The international rating agency also affirmed the bank’s viability rating (VR) at 'bb+', …
Ratings
Qatar First Bank will be removed from QE Al Rayan Islamic Index
13 March 2019 06:21 PM QSE changes indices constituents in April
Mubasher: The Qatar Stock Exchange (QSE) on Wednesday announced implementing changes to constituents of QE Al Rayan Islamic Index (QERI), QE All Share Index, and QE Sector Indices as of 1 April. However, the QE index will not witness any changes, …
Trading Activities
QIB targets a five-year senior unsecured sukuk sale
12 March 2019 04:04 PM Qatar Islamic Bank hires 6 banks for dollar sukuk issue
Mubasher: Qatar Islamic Bank (QIB) appointed six local and international banks as joint lead managers and joint bookrunners ahead of its potential US dollar-denominated sukuk issue, the Qatari lender said in a statement to the Qatar Stock Exchange …
Sukuk and Islamic Finance
The Qatari firm’s capital reaches QAR 315 million
12 March 2019 10:52 AM Qatar Oman Investment’s OGM nods to 3% cash dividends
Mubasher: Qatar Oman Investment on Tuesday announced that its shareholders have approved distributing a cash dividend of 3% of the share’s nominal value, or QAR 0.30 per share, with a total value of QAR 9.45 million, for 2018 during an ordinary …
General Assembly
The facility was oversubscribed 1.75 times
6 March 2019 04:21 PM QNB closes EUR 2bn syndicated loan
Mubasher: Qatar National Bank (QNB) on Wednesday announced closing EUR 2 billion ($2.26 billion) three-year senior unsecured term loan facility. The facility was oversubscribed 1.75 times after the Qatari lender received commitments of nearly EUR …
Banking and Finance
QNB Financial Services on Tuesday cut its estimate for Industries Qatar’s revenue to QAR 16.3 billion in 2019.
6 March 2019 00:37 PM QNB cuts Industries Qatar’s PT to QAR 119/shr
Mubasher: Qatar National Bank (QNB) Financial Services reduced the price target (PT) for Industries Qatar by 5.6% to QAR 119 per share, from QAR 126 and maintained "Market Perform" recommendation, with a more conservative approach, according to a …
Stock Evaluations
QIIB previously announced issuing $500 million sukuk as part of its $2 billion sukuk programme.
5 March 2019 05:42 PM QIIB lists $500m sukuk on London Stock Exchange
Mubasher: Qatar International Islamic Bank (QIIB) on Tuesday listed its $500 million sukuk on the London Stock Exchange (LSE). The offering was oversubscribed about seven times, with a total value of $3.4 billion, carrying a fixed coupon of 4.264% …
Corporate Actions
Al Obaidli previously held several senior positions including CEO of Ezdan Holding Group
5 March 2019 03:24 PM Qatar First Bank names new CEO
Mubasher: Qatar First Bank (QFB) on Tuesday announced appointing Ali Al-Obaidly as its CEO, according to the lender’s statement to the Qatar Stock Exchange (QSE). Al Obaidli previously held several senior positions including CEO of Ezdan Holding …
Corporate Actions
Islamic banks made up 25.2% of the total assets of commercial banks in Qatar
4 March 2019 02:50 PM Qatar’s Islamic bank assets drop 1.8% in January
Mubasher: Assets of Islamic banks operating in Qatar fell 1.84% year-on-year in January, according to the monthly monetary bulletin released by the Qatar Central Bank (QCB). Qatari Islamic banks’ assets amounted to QAR 347.49 billion ($95.48 …
Central Banks