Doha, January 25 (QNA) - Qatar National Bank (QNB) Group announced the acquisition of an additional holding of 12,883,373 ordinary shares in Housing Bank for Trade and Finance (HBTF), Jordan.
QNB Group's total stake in HBTF is now 38.57% from 34.48%. The cost of this additional holding was equivalent to USD83.8 million. This additional purchase was funded through existing resources and will continue to account for HBTF as an associate investment in accordance with International Financial Reporting Standards (IFRS).
QNB Group was established in 1964 and was listed on Qatar Stock Exchange in 1997. (QNA)