The Gulf country is expected to see a growth of 3.5 per cent for 2015 and 2016, according to IMF’s latest update.
Sarie Ahmed Arar, currently the executive vice president of wholesale banking, will assume the role of acting CEO.
A Tier 1 capital-boosting bond was its preferred method, the bank said.
Saudi Arabia’s main index was nearly flat while Egypt’s bourse rose 1.2 per cent.
Economies such as Qatar, Iraq, Libya and Saudi Arabia will be hit hardest by the more than 50 per cent decline in petroleum prices, the IMF said.
GDP, adjusted for inflation, grew two per cent from Q4 2013, down from 2.4 per cent in the third quarter.
Business confidence was notably down in oil producing countries across the world due to falling crude prices, the survey said.
The firm is seeking a three-month extension to a debt repayment due at the end of 2014.
The company made a net profit of Dhs3.68 billion ($1 billion) in 2014, up from Dhs2.57 billion in 2013, its chairman said.
The new loan also has more favourable pricing and conditions than the existing deal.
The bank said that it would seek shareholder approval to issue Tier 1 capital instruments worth $549 million.
The bank declared a cash dividend of QAR4 per share for 2014.
Kingdom made a net profit of SAR266 million ($70.84 million) in the last quarter of 2014.
The company reported a net profit of SAR376 million for the last quarter of 2014.
The loan is expected to help fund the company’s general corporate needs and growth plans, the company said in a statement.
Net profit for 2014 gained 3.1 per cent year on year to QAR1.35 million.
As part of the deal, Aabar will sponsor the team’s pre-season training camp and receive a certain portion of match-day advertising.
Net profit for 2014 was KD261.8 million, up around 10 per cent from 2013.
The region’s deal values were mainly driven by outbound M&A activity, a report says.
Around two-thirds of respondents expect demand for business credit to accelerate in the current quarter, with growth in Dubai likely to be strongest.
The company made SAR160.7 million($42.8 million) in the last quarter of 2014.
The rising cost of living is among the factors impacting UAE residents’ plan to save for their retirement.
The company made a net profit of SAR236 million ($62.9 million) in the last quarter of 2014.
The company said that the loan was for general corporate purposes.
TDIC’s deputy finance head Matt Matharu is currently serving as acting CFO, a spokesman said.
The loan will be used for capital expenditure and general business purposes, Al Hamra said in a statement.
Dubai’s index added 1.2 per cent, with Dubai Islamic Bank’s (DIB) 2.8 per cent gain the main support.
Abu Dhabi General Services Co awarded the contracts to the company for improvements to two sections of the highway from Mafraq on the outskirts of Abu Dhabi.
In Dubai on Sunday, the shares soared their 15 per cent daily limit to Dhs0.35 in their heaviest trading since mid-December.
The company made net earnings of SAR428 million in the last quarter of 2014.