Qatar National Bank ’s Ratings Affirmed with a Stable Outlook
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QA006 2 2CRA 00-01 3 May 2023
Qatar National Bank ’s Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Qatar National Bank (QNB) at ‘AA’ and ‘A1+’, respectively. At the same time, CI Ratings has affirmed QNB’s Bank Standalone Rating (BSR) of ‘a-’, Core Financial Strength (CFS) rating of ‘a-’ , and Extraordinary Support Level (ESL) of Very High. The Outlook for all ratings remains Stable.
The Bank’s LT FCR is set four notches above the BSR to reflect the very high likelihood of extraordinary support from the government in case of need. This is based on the government’s strong track record of support for Qatari banks in general and for QNB in particular. At different points in time such support has included the…