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Commercial Bank to raise QR2.0bn in Tier 1 Perpetual Capital Notes

Commercial Bank of Qatar (Commercial Bank or the Bank) announces that it intends to raise QR2bn in Additional Tier 1 Perpetual Capital Notes to enhance the Bank’s capital adequacy ratios and to support future growth across the Commercial Bank Group.

The proposed issue will be a local Private Placement by Commercial Bank and is expected to be completed during December 2013. Following placement of the Notes, the Bank’s capital ratios will increase by approximately 2.20%.

The issue is subject to regulatory and shareholder approval and an Extraordinary General Assembly will be convened in November 2013 for shareholders to receive and vote upon the recommendation for the issue of the Additional Tier 1 Notes.