Doha Bank, the fifth largest bank in Qatar in terms of market share, will open a branch in Romania in the coming three months, according to Dow Jones Newswire. This would be the first unit of the bank in Europe. DJN quotes Doha Bank deputy head Raghavan Seetharaman, who said the move will be followed by the opening of a network of agencies in the region.

Seetharaman said Romania was chosen for the new location because both Qatar and Romania are important profiders of liquefied natural gas. He said the bank has applied for another four licenses on the European banking market, while also planning to expand to the UAE, Kuwait, Bahrain and India.