DUBAI: Qatar National Bank (QNB) raised 10 billion riyals ($2.75 billion) of Tier 1 capital through a private placement of perpetual notes, the largest such issue ever conducted in the Middle East and Africa region, it said on Sunday.

The fully subscribed issue aimed to strengthen the bank's capital adequacy ratios and support future growth, QNB said without providing details of the pricing or the investors who bought the notes.

Copyright Reuters, 2016