Moody's has confirmed the credit rating of QNB, Qatar Islamic, QIIB, Dukhan, and AlAhli banks. The future outlook was fixed at a stable degree.
Moody's report relied on confirming the rating and fixing the outlook for five Qatari banks, based on profitability, asset quality, strong capitalization, and the government's ability to support when needed.
The profits of the aforementioned five banks in the first quarter of 2023 grew by 6.5 percent year-on-year, to reach 5.7 billion riyals, which represents 80 percent of the total profits of the banking and financial services sector by the end of March 2023.
Source (CNBC Arabic website, Edited)
