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Doha, Qatar: Commercial Bank, one of the leading full service banks in Qatar, will begin the season of dividend distributions by again providing an experienced and skilled collection system for the convenience of publicly listed companies' shareholders. Commercial Bank offers several dividend collection methods at all its 29 branches; represented in cash, cheque, and deposit into Commercial Bank accounts; or by transfer to any local or international bank accounts. The commencement of distributing the dividends will be announced in due course.
Customers can visit any Commercial Bank branch to inquire about their dividend's history and have the option to receive it in cash, cheque and / or a bank transfer for eligible dividends for previous years. If they have a Commercial Bank account, they can simply call our dividend hotline on +974 44495444 available 24/7 to credit their dividends into their account with Commercial Bank hassle free. For a local bank transfer, it will usually take up to two business days from the actual instruction date. You can also visit any of the mall branches in City Centre, Villagio, Landmark, Hyatt Plaza and Dar Salam Mall, which provides extended working hours up to 9:00pm and opened during the weekend. Commercial Bank will announce the commencement of distributing dividends for key publicly-listed companies on the Qatar Exchange in due course.
Commercial Bank EGM, Head of Government Relations, Khalifa Al Rayes said: "Commercial Bank is always looking for creative ideas to innovate the dividend distribution mechanics to allow shareholders to receive their dividends easier and hassle free. We encourage our customers to update their bank details with Qatar Central Securities Depository to allow automatic dividend credit. Commercial Bank continues to strive to be a leading provider for dividend distribution services.
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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 115.7 billion as at 31 December 2014. 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 29 full service branches and 152 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 billion as at 31 December 2014, has 61 conventional branches and 4 Islamic branches in Oman and 1 branch each in Egypt, Abu Dhabi and Dubai. UAB is headquartered in Sharjah, with total assets of AED 25.7billion as at 31 December 2014, and operates 31 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 enjoys strong credit ratings of (A) from Fitch, (A1) from Moody's and (A-) from Standard & Poor's. The Bank is listed on the Qatar Exchange and was the first Qatari bank to list its Global Depository Receipts (GDRs) as well as bonds on the London Stock Exchange. Commercial Bank's Swiss Franc bond issuance in December 2010, listed on the SIX Swiss Exchange, was the first public bond issuance by a Qatari bank in Switzerland. Commercial Bank's latest bond issuance in June 2014 is listed on the Irish stock exchange.
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.
ABank is a mid-size Turkish bank that predominately serves medium-sized companies through a country-wide network of 73 branches in 27 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 31 December 2014, ABank had total assets of TL 11.2 billion, total loans stood at TL 8.3 billion, customer deposits of TL 5.4 billion and shareholders' equity of TL 967 million.
wwweng.abank.com.tr
© Press Release 2015
