Ahlibank Qatar set to boost retail operations

January 30, 2014 9:02 am

Ahlibank Qatar, in which Qatar Foundation has a controlling 29% stake, has said it is set to rebalance its financing, as part of its restructuring to give more thrust into the retail segment and also to rationalise branch network, Gulf Times has reported. The bank, which last year saw the exit of its erstwhile Bahrain partner Ahli United Bank, is contemplating recapitalising as well as prospecting premium services, its deputy CEO for retail banking, Andrew Mckechnie said. “A three-year strategy has already been drawn up” (as far as “rebalancing” is concerned) and the focus will be to develop the retail side, Mckechnie said, adding there would also be rationalising of branch network, indicating that certain branches would be closed and certain others relocated elsewhere.