Qatar First Bank Completes Its Rights Issue To Increase Capital To QR1.12 Billion

(MENAFN- The Peninsula) QNA

Doha: Qatar First Bank LLC (Public) announces the successful completion of its rights issue.
The Bank issued 420,000,000 shares, with the aim of increasing the capital by 60 percent to QR1.12 billion In 2019, the bank had previously reduced the capital by 65 percent from QR 2 billion to QR700 million to extinguish consolidated losses of QR1.3 billion.

The net profits of Qatar First Bank increased by 2.55 percent in the first half of this year, to reach QR42.047 million, compared to QR40.999 million in the same period last year.

Read Also
  • Ghana raises Benchmark rate to 22% in biggest hike since 2002
  • Man Utd supporters call for 'real investment' from any new owner
  • Philippines plans first retail bond under Marcos presidency

On Aug. 1, Qatar First Bank held its Extraordinary General Meeting (EGM), and ratified all agenda items, including the change of the name of the Bank to 'Lesha Bank' and authorized the Chairman of the Board to take all necessary actions related to the Bank's new name to make any necessary adjustments to the new name, logo, trademark, domain, website, or emails of the Bank, as well as the names of the Bank's subsidiaries


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.