Qatari bank beats expectation with first note

Qatar National Bank's (QNB) first structured note attracted more than four times its expected sales amount, the bank announced yesterday.

The emirate's oldest commercial bank, QNB launched QNB Note 1, a two-year, volatility-adjusted note linked to a basket of Qatar-listed securities last month, as reported by SRP.

The note was created with the bank's in-house structuring team and was issued by the QNB Group's private banking subsidiary, QNB Banque Privée Suisse, incorporated in Geneva, Switzerland.