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Wed 18 Jan 2017 02:22 PM

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Gulf's largest lender set to increase share capital by 10%

Qatar National Bank says it plans to distribute bonus shares worth $230m

Gulf's largest lender set to increase share capital by 10%
Qatar National Bank, the Gulfs largest lender, plans to increase its share capital by distributing bonus shares worth 10 percent of the current capital.

Qatar National Bank, the Gulf's largest lender, plans to increase its share capital by distributing bonus shares worth 10 percent of the current capital, it said in a statement on Wednesday.

The bank's current capital amounts to 8.40 billion riyals ($2.3 billion) and after the planned 10 percent rise it will be about 9.24 billion riyals.

The statement did not specify whether the capital increase would be discussed or approved during the bank's extraordinary general assembly on Feb. 5.

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