Moody’s has affirmed Doha Bank’s A2/Prime-1 deposit ratings and baa3 baseline credit assessment (BCA).
Doha Bank’s A2 deposits rating incorporates the bank’s importance to the local financial system with a market share of around 8 percent in deposits.It demonstrated willingness and ability of the Qatari government to provide support to local banks, through capital injections and the purchase of real-estate and equity investment portfolios from banks; and the government’s 16.7 percent shareholding in Doha Bank.
Bank’s capitalisation levels are expected to strengthen, as the lender recently completed a rights issue of QR1.3bn.
As a result, Tangible Common Equity-to-risk weighted assets is expected to increase to 12.4 percent from 10.8 percent as of March 2017.
