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Report: Qatar's Commercial Bank intends to increase capital in Turkish unit

Qatar's Commercial Bank PSQC plans to increase capital in wholly owned Turkish unit Alternatifbank AS, "people with knowledge of the matter" told Bloomberg News.

The bank will look to raise capital of between $500 million and $1 billion, including from other international financial institutions, Bloomberg wrote.

Alternatifbank and Commercial Bank said in a joint statement that the Turkish unit is "adequately capitalized" and that there are no immediate plans for a capital increase.