Tribune News Network
Doha
Fitch Ratings raised Doha Bank’s credit rating from A- to A and upgraded the bank’s outlook to stable from positive.
This was due to the recent upgrade of Qatar’s sovereign rating which reflects the increased confidence in the country’s ability to bolster its economic stability.
Fitch stated that Qatar’s solid sovereign credit rating enhances its ability to intervene to address any shocks that the banking system may face and reduces exposure levels to potential risks.
In this regard, Doha Bank Group CEO Sheikh Abdulrahman bin Fahad bin Faisal Al Thani said that the upgrade of the bank’s credit rating aligns with its efforts to strengthen its resilience and develop its operations in accordance with the strategic objectives of the government and Qatar Central Bank, contributing to solidifying Qatar’s financial development in the national economy.
