Doha – Mubasher: Commercial Bank of Qatar on Wednesday denied the reports about selling its 40% stake in Emirates’ United Arab Bank (UAB) to another bank.
Recent media reports said that the Qatari bank offered its stake for sale to another bank, but the commercial bank negated that news.
“The bank didn’t contact any local or regional banks or other financial firms to negotiate over selling its stake in United Arab Bank,” Qatar’s Commercial Bank’s Chief Executive Officer, Abdulla Saleh Al-Raisi, said in a statement.
“Qatar’s Commercial Bank has no plans to withdraw from Emirati markets,” he added.
