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Fitch Upgrades 7 Qatari Banks

April 2015

Fitch Ratings upgraded the Long-term Issuer Default Ratings of Commercial Bank of Qatar, Doha Bank, Qatar Islamic Bank, Al Khalij Commercial Bank Qatar International Islamic Bank and Ahli Bank to ‘A+’ from ‘A’. The upgrade of all the Fitch-rated Qatari banks’ IDRs follows the publication of Qatar’s Long-term IDR of ‘AA’ on 6 March 2015, which provides greater clarity over Qatar’s ability to provide support to the banking sector in case of need.

The Qatari banking sector is healthy. Local banks are highly capitalised and asset quality is solid with non-performing loans at less than 2% of total loans, Fitch Ratings said in a statement. Credit growth has slowed as the government has moved to directly financing projects from intermediating via banks. There is a demonstrated strong government commitment to its banks and key public-sector companies, it said.

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