Wednesday, February 28, 2007

Doha Bank making foray into Europe with Romania unit

Doha Bank, Qatar’s fifth-largest lender by market value, will open a representative office in Romania within three months, the bank’s first in Europe, according to Dow Jones Newswire.

“We will open a representative office in Romania and follow it by a branch shortly,” the bank’s deputy chief executive Raghavan Seetharaman told Zawya Dow Jones on the sidelines of the Forbes CEO Middle East Forum in Qatar. Seetharaman said Romania was chosen by Doha Bank as both the countries are major suppliers of liquefied natural gas.
“This is our first move into Europe,” he said, adding that the bank has applied for four other licences in Europe.

Doha Bank has said earlier it was expanding into the UAE, Kuwait, Bahrain and India.
The bank last week opened a representative office in Japan with an aim to promote business with Japanese companies operating in Qatar. – Bloomberg

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