Estithmar completes 48.68% Shahba Bank stake transfer
Tribune News NetworkDohaEstithmar Holding Q.P.S.C., listed on the Qatar Stock Exchange with a market capitalisation of approximately $5 billion, announced the completion of the tra...
Estithmar Holding Q.P.S.C., a major player on the Qatar Stock Exchange with a market capitalization of around $5 billion, has finalized the transfer of a 48.68% stake in Shahba Bank to Masaref Holding LLC, a subsidiary wholly owned by Estithmar Capital. The transaction was completed after meeting all requisite conditions and obtaining the necessary regulatory approvals.
This strategic move aims to bolster the financial, operational, and technological capabilities of Shahba Bank, as Masaref Holding plans to support the bank's development through its extensive institutional expertise. The investment reflects Estithmar Holding's commitment to Syria's economic potential and its long-term vision for the banking sector.
Masaref Holding intends to strengthen Shahba Bank's capital, expand its branch network, and enhance its portfolio of products and services. These initiatives may include modernizing banking systems, developing digital channels, and expanding the bank's reach to areas with limited access to banking services.
Both Estithmar Holding and Shahba Bank's leaders expressed their confidence in the investment's positive impact on Syria's banking sector and the country's economic growth.
Written by urgent.news from Qatar Tribune Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
