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Commercial Bank supporting Qatar Development Bank as host organisation
Doha, Qatar: Commercial Bank, Qatar's first private bank, will participate at Global Entrepreneurship Week (GEW) and has invited local entrepreneurs and SMEs to visit the Bank's stand during 15 and 16 November at the Grand Hyatt.
GEW is the world's largest celebration of the innovators and job creators who launch startups that bring ideas to life, drive economic growth and expand human welfare. During this week GEW inspires people everywhere through local, national and global activities designed to help them explore their potential as self-starters and innovators. 2015 is the fourth year of GEW Qatar, which aims to provide aspiring entrepreneurs with the tools and knowledge they need by linking them with relevant organisations and mentors, by convening recognised local entrepreneurs to discuss regulatory and financial policies, and to foster awareness of the rewards of entrepreneurship among Qatar's youth.
Commercial Bank, as Qatar Development Bank's partner bank for the Al Dhameen Programme, will be present at GEW to support visitors by providing information on financing through the Portfolio Programme. The Al Dhameem Programme supports Qatari SMEs with overcoming obstacles with funding due to a short credit history, and facilitates financing procedures for key sectors such as industry, education, healthcare and added-value services.
Commercial Bank CEO Mr. Abdulla Saleh Al Raisi said: "As a partner of the Al Dhameem Programme, Commercial Bank is honoured to support Qatar Development Bank and we are looking forward to participating in this excellent initiative for Qatar's private sector. As Qatar's first private bank, we actively support the Qatar National Vision 2030 which emphasises achieving economic diversity and sustainability through the growth of SMEs. Commercial Bank is committed to serving the needs of Qatari SMEs through the Al Dhameem Programme in partnership with Qatar Development Bank, and through Enterprise Banking, our dedicated business unit for SMEs providing bespoke, value-added products and services."
He added: "I encourage all Qatari entrepreneurs and SME owners to visit the GEW Commercial Bank stand at the Grand Hyatt on 15 and 16 November to find out more how the Al Dhameem Programme can help their business."
**Ends**
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
