The financial services group, which has offices in Jersey and Guernsey and is part of Qatar National Bank (QNB), says property finance is not its core business and the intention is to focus on developing private banking and wealth management activities.
Ansbacher announced earlier this month that it had joined forces with Oxford Capital Partners to create a venture capital business focused on developing technology in Qatar.
The joint venture will manage the QSTP New Enterprise Fund and Technology Venture Fund, investing in science and technology companies and supplying seeding for new businesses.
QNB is also expanding in Singapore and Libya, Oman, Kuwait and Yemen, with existing branches in London and Paris and a representative office in Iran.
Ansbacher, the bank’s wealth management and private banking subsidiary, also has offices in Switzerland, the Bahamas, Dubai and Qatar as well as the Channel Islands.
Ansbacher was the first financial institution to be granted a licence at Qatar Financial Centre.
