Doha Bank said on Monday a new insurance subsidiary it is setting up, called Doha Bank Assurance Co, would have 100 million riyals ($27.48 million) in paid-up capital.
The lender's chief executive said last week Doha Bank would set up the wholly owned insurer on January 7.
Doha Bank was also in talks with a global investment bank to start an investment banking and asset management joint venture as it strives to diversify its revenue flows, Raghavan Seetharaman told Reuters on December 19. (Reuters)
Doha Bank insurance unit to have $27m capital