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S&P revises CBQ’s outlook from stable to positive

Finance, Business Doha 21 Apr 21
S&P revises CBQ’s outlook from stable to positive
S&P Global Ratings revises Commercial Bank outlook from stable to positive on Commercial Bank .
Fee
Event Location
Qatar , Qatar
Area
Doha
Start Time
21 April 2021, 12:00 AM
End Time
30 April 2021, 12:00 AM
Website

S&P Global Ratings has revised its Commercial Bank outlook from stable to positive while affirming its 'BBB+/A-2' long and short-term issuer credit ratings.

S&P said in a statement: “Over the past few years, Commercial Bank has de-risked its balance sheet and strengthened its risk management.”

Highlighting the key role of the Qatari authorities in providing support to the Commercial Bank, the rating agency said, “We classify Commercial Bank as having high systemic importance and consider the authorities in Qatar highly supportive of the country's banking sector.”

Commercial Bank Group Chief Executive Officer Joseph Abraham said, “ S&P’s positive outlook reflects the bank’s improved quality of earnings generation, strong capital and liquidity and the focused execution of our five-year strategic plan.”

Qatar banks updates 2021 Qatar financial news 2021S&P Ratings Qatar commercial bank



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