Qatar’s Doha Bank is proposing to set up a unit in Iran this year. The bank may also enter other markets, according
to CEO R. Seetharaman. He said the bank is now looking at various options to expand in new markets and if the regulators and shareholders approve it will expand beyong Qatar. However, he did not specify Iran as one of the countries the bank is looking at. He said the bigger picture is to recognise that sanctions are lifted, but the Iranian market has to be fully operational. There are a lot of regulatory elements required, but as and when that happens, the bank will be ready, he added. Seetharaman said he expects to see consolidation in financial performance in GCC region during the rest of this year as lower oil prices take a toll on the bank.
