Chairman of Doha Bank Sheikh Fahad bin Mohammed bin Jabor Al Thani
Doha: Capital Intelligence (CI), the international credit ratings agency, has affirmed Doha Bank (DB)’s Financial Strength Rating at ‘A’. CI has assigned a positive rating (upgraded from stable) on Doha Bank’s foreign currency outlook.
The affirmation of ratings and the positive outlook reflects the bank’s very strong retail franchise, growing international network, improving asset quality, strengthening capital adequacy and sound profitability.
The long and the short term foreign currency ratings are also affirmed at “A” and “A2” respectively. The Bank’s Support Rating was affirmed at ‘2’. Sheikh Fahad bin Mohammed bin Jabor Al Thani, Chairman of the bank said that ratings reflected Doha bank’s strengthening international presence and sustained profitability. He said that bank had achieved noticeable growth rates in all financial parameters. Dr R Seetharaman, CEO of the bank said that it is the vision of the board of the bank to expand globally and set its international footprint. He said that the bank has been able innovate and bring the most novel and state of the art products to the market. He said the bank has been able to produce sustainable performance and that continued in 2012 as well. He said that bank hence has been awarded by renowned financial sector analysts and companies for its pioneering role in financial services sector. The Peninsula
