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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Fitch: The pressure on Qatari banks is falling

    Rocky
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    • Post n°1

    Fitch: The pressure on Qatari banks is falling Empty Fitch: The pressure on Qatari banks is falling

    Post by Rocky Wed 18 Oct 2017, 3:04 am

    [size=30]Fitch: The pressure on Qatari banks is falling[/size]
    18/10/2017 09:27 | Number of readings:
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    Fitch: The pressure on Qatari banks is falling Thumbnail.php?file=thumbs_b_c_077ac7f05256daed8386f7ec20be78a3_318954600
    [rtl]Trend Press / Agencies[/rtl]
     
    [rtl]The pressure on Qatari banks due to the boycott has begun to ease, the international credit rating agency Fitch said.[/rtl]
    [rtl]Fitch said in a research note on Wednesday that the wave of withdrawal of foreign deposits triggered by the boycott began to decline as international investors looked to Doha.[/rtl]
    [rtl]On June 5, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut ties with Qatar on the pretext of "supporting terrorism," which Doha denied.[/rtl]
    [rtl]In its memorandum, the Fitch agency confirmed that Qatar banks have compensated for the withdrawal of foreign deposits from the public sector and from the issuance of international debt, particularly sukuk.[/rtl]
    [rtl]Foreign deposits with Qatari banks slowed to 4 percent in August from 6 percent in July and 12 percent in June.[/rtl]
    [rtl]Deposits of customers from the GCC countries have also slowed, while funds from the public sector have begun to flow into banks.[/rtl]
    [rtl]"There is evidence of increased international investor confidence in Qatar, including a rise in deposits from non-bank foreign financial institutions by 8 percent in August, after a 15 percent and 19 percent drop in the previous two months, respectively," Fitch said.[/rtl]
    [rtl]The agency said the continued boycott kept some of the risk on banks' finances, affecting liquidity, pressure on financing costs and margins.[/rtl]
    [rtl]A report by the same agency in late August confirmed that Qatari banks were suffering from higher financing costs. Those banks that rely more on non-local deposits face increasing pressure to reduce their rating.[/rtl]

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