Qatar First Bank issued 420,000,000 shares in order to increase capital by 60 percent to $307 million.
Its net profit shot up 2.55 percent to $11.53 million in the first half of this year, compared to $11.23 million in the same period last year.
In 2019, the bank had reduced the capital by 65 percent from $549 million to $192 million to extinguish consolidated losses of $357 million.
On Aug. 1, Qatar First Bank held its Extraordinary General Meeting (EGM), and ratified all agenda items, including the change of the name of the Bank to “Lesha Bank.”
It authorized the chairman of the board to take all necessary actions related to the bank’s new name to make any necessary adjustments to the new name, logo, trademark, domain, website, or emails of the bank, as well as the names of the bank’s subsidiaries.
