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Moody’s Reaffirms Grade Rating to Doha Bank
DUBAI - Moody’s Investor Service, the International Rating Agency, reaffirmed Doha Bank’s strong financial fundamentals and its solid franchise in the State of Qatar, with a satisfactory liquidity management.
In its report, the rating agency reaffirmed Doha Bank’s Foreign Currency Deposit Ratings as A2/P-1 and the Bank’s Financial Strength Rating (BSFR) at D+ with a stable outlook.
The ongoing improvement in the domestic operating environment has also helped the banking sector in which Doha Bank is a major player.
The ratings also factored the management’s focus on retail banking that and the improvement in the quality and stability of earnings. The ratings agency further observed that Doha Bank has a satisfactory liquidity management while its market risk appetite is assessed as moderate.
Doha Bank’s liquid assets accounted for 34 per cent of the total assets and the bank’s Capital Adequacy Ratio at 14.8 per cent as at the end of September 2008, well above the regulatory minimum of 10 per cent.
As per Moody’s report, improved asset quality, maintenance of healthy interest margins and expected continued good profitability ratios in the short to medium term supported the continuance of the existing ratings accorded to the bank.
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