Doha-Mubasher: Doha Bank announced in a statement to Qatar Exchange (QE) that the ordinary general meeting approved the issuance of debt securities using the bank’s EMTN programme.

 The securities will be issued in varying amounts, but they should not exceed the amount of EMTN programme totaling $2 billion, according to the bank.

Moreover, the maturities will diversify, yet not exceeding 10 years for senior debt and 30 years for private deposits.

 The statement highlighted that the total value of outstanding and due securities should not exceed at any time the Bank’s capital unless the increase is guaranteed by a bank operating in Qatar.

The bank reported a slight rise in profit by 3.1% to QAR 1.354 billion ($371.4 million) during the fiscal year (FY) 2014, compared to QAR 1.313 billion ($360.22 million) in FY13.