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Sun 22 Nov 2009 12:51 PM

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The Middle East’s 25 smartest banks-Doha Bank

The Middle East’s 25 smartest banks-Doha Bank

Doha Bank

was incorporated in 1978 and commenced its domestic and international banking services in the Qatari capital on March 15, 1979. Today, it is Qatar's fourth largest bank by assets.

The bank did post a nineteen percent drop in third quarter net profit, broadly in line with expectations. However, the lender reported a nine-month net profit of QR850.8m ($233.7m), according to a statement posted on the local stock exchange, up two percent from the same quarter last year.

The ratings agencies are certainly happy: Fitch Ratings recently affirmed
Doha Bank

's Long-Term Issuer Default rating (IDR) at ‘A' with Stable Outlook, Short-Term IDR at ‘F1', Individual rating at ‘C', Support rating at ‘1' and the Support Rating Floor at ‘A'.

Meanwhile, CI rates the bank's financial strength at A, and CI, Moody's and S&P all have Stable Outlook.

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