QNB acquires additional stake in Jordan’s HBTF

Qatar National Bank (QNB) Group has acquired 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 has now reached 38.57 percent from 34.48 percent. The cost of this additional holding was equivalent to $83.8 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)