Doha Bank Considers Emerging Market Expansion

Posted on Nov 7, 2011 in Emirates-Middle East, Middle East Outlook

In advance of the MSCI’s decision whether to grant emerging market status to the UAE and Qatar, likely to come in December, Doha Bank of Qatar is making some dramatic plans for expansion. Doha Bank is seeking to make a major acquisition as early as 2012 and a bank in Turkey or another emerging market may be the target. The bank also plans to expand operations in Saudi Arabia and has received authorization to begin brokerage operations in Abu Dhabi. The bank also reported a 10 percent rise in third quarter profits.