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Qatar National ratings affirmed
- Qatar: Thursday, September 17 - 2009 at 09:43
Fitch Ratings has affirmed Qatar National Bank's (QNB) ratings at Long-term Issuer Default (IDR) 'A+' with Stable Outlook, Short-term IDR 'F1', Individual 'B/C' and Support '1'. Fitch has also affirmed the Support Rating Floor at 'A+'. The bank's H109 results are satisfactory and show strong core earnings, good capitalisation (Tier 1 ratio of 13%), healthy liquidity and a still low NPL ratio (0.9%), the rating agency has said. However, Fitch warns that rising retail and SME defaults could still exert negative pressure on future profitability.
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StaffThursday, September 17 - 2009 at 09:43 UAE local time (GMT+4)
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