DOHA: Qatar National Bank is putting Southeast Asia as the focus of its expansion, the chief executive officer of the Middle East’s biggest lender said.
“If we find the right opportunity for acquisition, we will consider it,” he said, adding there are no deals currently under review. The bank’s regional growth has been curtailed as Qatar has been locked in a standoff with Saudi Arabia, the United Arab Emirates, Bahrain and Egypt since mid-2017. “We know that Qatar, at one point in time, will not be itself sufficient to satisfy our expansion growth, or the growth potential that we have.”The lender reported record profit in 2019, helped by higher interest income.
Source: News Formal (newsformal.com)
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