Qatar National Bank dips, increases its stake in Iraq's Mansour Bank

Qatar: The Doha-based Qatar Exchange (QE) 20 Index closed 0.11% lower at 8,693.43 points. The gas-rich country's largest lender by assets Qatar National or QNB fell 0.30% to QR134. Earlier in the day, QNB said it has obtained the approval of the Central Bank of Iraq take the majority in Mansour Bank in Iraq, increasings its stake from 23% to 51%. "In accordance with the memorandum of understanding, signed between the two banks, QNB Group will effectively manage Mansour Bank and provide it with needed technical and logistical support," QNB said in a statement to the Qatari bourse. Doha Bank gained against the trend, closing 0.34% higher at QR59.70. [AMEInfo.com]