...Support Drives IDRs: The Issuer Default Ratings (IDRs) of The Commercial Bank (P.Q.S.C.) (CBQ) are driven by an extremely high probability of support from the Qatari authorities, if needed. This reflects Qatar's strong ability to support its banks, as indicated by its rating, combined with Fitch Ratings' belief that there would be a strong willingness to do so. CBQ's Viability Rating (VR) reflects its well-established franchise in Qatar and solid management quality. It also takes into account CBQ's concentrated balance sheet (notably to real estate) and only adequate capital ratios, as well as below-peer-average asset quality, profitability and liquidity. Well-Established Franchise: CBQ has a well-established franchise in Qatar and is the third- largest bank by assets, accounting for about 10% of banking system assets. It has fairly significant activities outside its domestic market, notably in Turkey, where it sees good growth and earnings prospects. Deteriorating Asset Quality: The impaired...
