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  • 16-01-23

    Report: Qatari banks to raise additional profits this year

    (MENAFN) Banks in Qatar are estimated to raise profits and bolster their capital and liquidity positions this year, triggered by an additional accommodating worldwide and local climate, after the positive conclusion of the FIFA World Cup, as mentioned in a report by MEED, quoting experts.

    Based on the report, Qatari lenders had huge tournament-associated lending chances that started years ago, and it is going to support them earn additional incomes this year.

    “For the full year 2023, we’re expecting sector average profitability metrics to actually be slightly higher than pre-pandemic levels,” in line with Redmond Ramsdale of Fitch Ratings.

    “Our sector outlook for the Qatari banking sector is neutral. That's supported by what we’re expecting, which is a reasonable operating environment for the banks for this year,” Ramsdale added.

    He continued: “We’re expecting sector credit growth of about 4 percent this year, roughly in line with other Gulf Cooperation Council countries.”

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