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Doha, Qatar:Commercial Bank CEO Abdulla Saleh Al Raisi today announced Khalifa Nasser Al Rayes has assumed responsibility for the Bank's Government and Public Sector Business.
Khalifa has been with Commercial Bank for over ten years, serving in numerous senior positions including Head of Private Banking, and has extensive knowledge of the Qatari market. This executive decision will allow Commercial Bank to strategically expand its Government and Public Sector business relationships with key customerstransforming it into a multi-dimensional business, and alsounderscores the Bank's commitment to supporting home-grown talented stafffurther strengthening the presence of Qatari Nationals at the executive management level of the Bank.
Commenting on the expanded role for Khalifa, Commercial Bank CEO Abdulla Saleh Al Raisi said: "I am delighted to announce this strategic decisionwhich will have a significant impact on the development of the Bank's business. Khalifa is a talented leader who understands Qatar and the particular needs of our valuable Government and Public sector clients. Khalifa's expertise built over many yearsin senior roles will help transform this strategically important area of business for Commercial Bank. I am sure he will be a great success in his newly expanded position as Executive General Manager, Government Relations and Public Sector."
He added, "Commercial Bank continues to invest heavily in the development of all our employees in line with the Qatar National Vision 2030 human capital pillar to support Qatari Nationals to enable them to the lead at the very highest level in their roles."
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For more information, please contact:
Qatari media
Ibrahim Al-Emadi
Head of Corporate Communications
Commercial Bank
Tel: +974 4475 4748
Email: ibrahim.alemadi@cbq.qa
About Commercial Bank
Commercial Bank has total assets of QAR 119.2 billion as at 30 Sep 2015. As a full service commercial bank, the Bank offers a full range of corporate, retail and investment banking services as well as owning and operating exclusive Diners Club franchises in Qatar and Oman. The Bank's countrywide network includes 30 full service branches and 156 ATMs.
Profitable every year since incorporation in 1974, continual investment in technology and human capital, together with a strong capital base, provides a solid foundation for continued growth. A successful diversification strategy has expanded Commercial Bank's GCC footprint through strategic partnerships with associated banks, the National Bank of Oman (NBO) in Oman and United Arab Bank (UAB) in the UAE. NBO, the second largest bank in Oman with total assets of OMR 3.3 billion as at 30 Sep 2015, has 61 conventional branches and 6 Islamic branches in Oman and 1 branch each in Egypt, Abu Dhabi and Dubai. UAB is headquartered in Sharjah, with total assets of AED 25.8 billion as at 30 Sep 2015, and operates 30 branches across the emirates in the UAE. Building on the successful execution of the Bank's expansion strategy to date, Commercial Bank completed the acquisition of a majority stake in Alternatifbank in Turkey in July 2013.
Commercial Bank was awarded "Best retail bank in Qatar" for 2015 by The Asian Banker based on its wide-ranging achievements over the past three years and ambitious future plans. In recognition of the Bank's innovative customer focused products and services provided to SMEs, Commercial Bank also won the prestigious "Best Commercial (SME) Bank of the Year, Qatar" award from The International Banker for the year 2015.
The Bank is dedicated to supporting Qatar's community and social infrastructure through Corporate Social Responsibility programmes and sponsorship of various events. Title sponsorship of the Commercial Bank Qatar Masters and the Grand Prix of Qatar Moto GP reflects the Bank's promotion of excellence in sports and its keen interest in enhancing Qatar's international sporting reputation. To reinforce Qatar's flourishing cultural environment, Commercial Bank is the strategic partner of the Katara Cultural Village. This collaboration symbolises the Bank's commitment to supporting cultural activities in Qatar and making the country a regional arts and cultural hub.
About Alternatifbank (ABank)
ABank was established in 1991 and has been listed on the Istanbul Stock Exchange since 1995. Commercial Bank became the majority shareholder in ABank in 2013 holding a 74.24% stake, following the acquisition of ABank shares of 70.84% from the Anadolu Group and 3.40% through a public tender offer. Anadolu Group remains a significant shareholder retaining 25% of shares in ABank. The bank completed a squeeze out process and its current shareholding in Abank is 75%.
ABank is a mid-size Turkish bank that predominately serves medium-sized companies through a country-wide network of 64 branches in 21 cities. ABank provides commercial/corporate banking services and products, with a special focus on the growing segment of Small and Medium-Sized Enterprises. The Bank's main product ranges cover trade finance instruments, working capital finance, cash management, and portfolio management. The Bank has also recently made a strategic decision to re-enter Retail Banking, targeting the "mass affluent segment" in terms of customer profile with tailor made products.
At 30 September 2015, ABank had total assets of TL 14.6 billion, total loans stood at TL 10.7 billion, customer deposits of TL 6.2 billion and shareholders' equity of TL 1.05 billion.
wwweng.abank.com.tr
© Press Release 2015
