Fitch puts Qatar National Bank watch

Fitch Ratings said it placed Qatar National Bank QPSC's A+ long-term issuer default rating on rating watch negative.

“The RWN reflects the Qatari banking sector's increasing reliance on external funding and recent rapid asset growth, which may have moderately weakened the sovereign's ability to provide support to the system, in case of need,” Fitch said in a press release.

Fitch said it aims to resolve the RWN after added analysis of the current composition and stability of Qatari banks' non-resident funding, the evolution of this funding in terms of volumes and sources, banks' liquidity management plans and the sovereign's ability to provide liquidity support to banks in case of need.

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