Mubasher: Qatar National Bank (QNB) on Sunday has announced issuing Additional Tier 1 capital notes at a value of QAR 10 billion ($2.75 billion) via a private placement.
This issue is a part of QNB’s expansion strategy, it said in a statement, adding that “the issuance was fully subscribed reflecting strong investors' confidence in QNB Group's strategy and financial position."
QNB last reported a 3.5% year-on-year increase in profits to QAR 3.72 billion in the third quarter of 2018, versus QAR 3.59 billion, while for the first nine months of 2018, profits rose 5.6% to QAR 10.8 billion, from QAR 10.3 billion in the same period of 2017.
QNB's stock shed 0.51% to QAR 194.85, after 32,400 shares were exchanged, generating QAR 6.3 million.
