Mubasher: Qatar Central Securities Depository (QCSD) on Thursday announced that it had amended non-Qatari ownership limit in Qatar National Bank (QNB) to 49% of the capital.
QCSD also rose the maximum shareholder ownership limit in the largest lender in the Middle East and Africa by assets to 5%, according to a filing to the Qatar Stock Exchange (QSE).
The new amendments will be put into effect as of Thursday 19 April 2018, QCSD noted.
Early this week, QNB’s board approved increasing foreign ownership limit to 49% of the capital instead of 25%.
The Middle East’s largest bank's profits rose 7% to QAR 3.4 billion for the first quarter of 2018, from QAR 3.2 billion in Q1-17.
As for the full-year 2017, profits grew 6.2% to QAR 13.1 billion, compared to QAR 12.3 billion a year earlier.
By 10:20 am Qatar time, QNB’s stock levelled up 3.94% at QAR 151.75, the highest price since February 2017.
