DUBAI: Qatar National Bank (QNB), the largest lender in the Gulf Arab region, said on Tuesday its shareholders would meet at the end of January to approve the issuance of capital-boosting bonds among other decisions.
The lender would hold its ordinary and extraordinary general assembly meeting on Jan. 31. In the absence of quorum, another meeting would be held on Feb. 3, it said in a bourse statement.
Among the items to be discussed would be granting the bank permission to issue bonds which could either enhance its core Tier 1 capital or its supplementary Tier 2 capital, The statement added details such as size and pricing would be determined by the board at a later date.
QNB said last week its board had approved issuing the Basel III-compliant bonds to maintain its reserves above regulatory minimums and support future growth.
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