Qatar First Bank sells partial stake in leading healthcare platform
“This has been a very good investment for the bank, and we still hold shares in the group to benefit from future upside,” Ihab Asali, QFB managing partner for alternative investments, said. “We are delighted to have contributed to their continuing success, which surely strengthened their expansion plans and capabilities in providing global reach and best practices within the healthcare industry.”
QFB's decision comes after a downward revision in valuations of some of its investments in 2016, specifically due to events in Turkey and the United Kingdom. The bank, which is a leading Shari’ah compliant bank, retains a diversified portfolio in terms of sector and geography.
“QFB’s strategy focuses on our role as a trusted advisor, a gateway for investors who wish to tap into innovative, Shari’ah compliant, investment opportunities in local, regional and global markets,” Ziad Makkawi, CEO of QFB, said. “During 2017, we will continue to diversify our portfolio and focus on business services, healthcare, education and real estate sectors while expanding into new geographical markets regionally and internationally. We are well-positioned to provide capital solutions to growing businesses in the region that will benefit from our experience and network.”