Qatar's Doha Bank plans capital raising in 2015

KUWAIT Wed May 21, 2014 7:23am EDT

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KUWAIT May 21 (Reuters) - Doha Bank is planning to raise additional capital in 2015 as it bolsters its reserves due to high growth rates and potential acquisitions, the chief executive of Qatar's fourth-largest bank by assets said on Wednesday.

"If our organic expansion is per the growth model we envisage, then we will need additional capital, which we will mobilise next year," CEO R. Seetharaman told reporters at a news conference in Kuwait.

Both Doha Bank and Commercial Bank of Qatar may need to raise as much as 1.5 billion riyals ($412 million) of Tier 1 - or core - capital in 2015 to help meet stringent limits set down by the Qatar Central Bank, Morgan Stanley said in an analyst note this week. ($1 = 3.6410 Qatar Riyals) (Reporting by Sylvia Westall; Writing by David French; Editing by William Hardy)

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