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Doha, Qatar: Commercial Bank, Qatar's oldest and largest private sector bank, is proud to announce it has won the prestigious "Best Retail Bank in Qatar" award at The Asian Banker's Excellence in Retail Financial Services 2015 Awards ceremony, held in Singapore.
Commercial Bank was crowned "Best Retail Bank in Qatar" based on its wide-ranging achievements over the past three years and ambitious plans for 2015. The Asian Banker is an authoritative provider of strategic business intelligence to the Asian financial services community. Applicants for the award were subject to a rigorous three-month evaluation process involving 37 different criteria, with judging conducted by prominent global bankers, consultants and academics.
Commercial Bank CEO Abdulla Saleh Al Raisi said: "We are delighted to receive this award confirming Commercial Bank's position as the leading retail bank in Qatar and our commitment to our valued customers. Commercial Bank is proud to be a Qatari bank serving Qatari and expatriate customers. It is an honour to be recognised by international organisations for our market leading and innovative retail products and services that meet the needs of our customers. I would also like to extend my gratitude to the Board for their continuous support, especially during this year in which we celebrate our 40th anniversary."
Dean Proctor, Commercial Bank Executive General Manager, Chief Consumer & Private Banking who received the award on behalf of the Bank said: "Commercial Bank has continued to lead the market in customer service, innovation and product offerings, together with launching exciting initiatives for our customers such as exclusive partnerships with Manchester United and IKEA. This award is a result of the dedication and commitment of my Commercial Bank colleagues and it was a proud moment to collect the award their behalf. Most importantly, I would like to extend sincere thanks to all our Commercial Bank customers; your custom is highly valued and we will continue to strive to serve your needs with distinction at all times."
Creating a positive customer experience and delivering exceptional customer service remains central to Commercial Bank who are constantly introducing solutions and services to both sustain and upgrade the level of service provided to the Bank's valued personal customers. Commercial Bank's Internet and Mobile Banking services are regularly upgraded with new and easy to use functionality to enable customers to bank 24/7, and the Bank's first-to-market "Life in Qatar" proposition has provided thousands of new-to-Qatar customers with an easy online account opening process and useful information for relocating. Commercial Bank's already comprehensive rewards programme for cardholders has been enhanced with the introduction of FlyMiles and more recently enabled customer redemption online.
This financial quarter, Commercial Bank is set to launch highly attractive customer offers across a whole range of products including Personal Loans, Vehicle Loans and Mortgages, and the Bank's "Life in Qatar" proposition has recently been enhanced through an exclusive partnership with Ooredoo. Commercial Bank is currently rolling out first-to-market and technologically advanced Mobile Point of Sale devices which will greatly assist small and medium sized businesses with card payments, and during this dividend period, the Bank continues to offer highly competitive products and rates to savings customers.
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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
