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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 Commercial (SME) Bank of the Year, Qatar" award from The International Banker, a highly respected publication based in the UK. Commercial Bank was nominated for the award by the publication's subscribers and judged to be the best bank in Qatar for Small to Medium-Sized Enterprises.
Commercial Bank CEO Abdulla Saleh Al Raisi said: "The Qatar National Vision 2030 identifies SMEs as a key constituent for sustainable economic development and SMEs are globally recognised as essential drivers for economic diversification, job creation and new sources of innovation. Commercial Bank is therefore actively committed to empowering entrepreneurs and supporting the needs of SMEs to help develop the private sector for the benefit of both the companies concerned and for our beloved nation. As Qatar's first private bank established 40 years ago on the principles of ambition, entrepreneurship and innovation, Commercial Bank has developed a deep understanding of the SME market in Qatar and their specific business needs."
Al Raisi continued: "Commercial Bank is the SMEs bank of choice in Qatar and we are delighted to receive this award that recognises the range of market-leading products and services we provide SMEs through our specialised department: Enterprise Banking. Enterprise Banking's dedicated team acts as a platform for SMEs to grow and succeed by offering not only financing, but also education and training, advisory services, and cloud-based technology solutions that allow SMEs to focus on their core business."
Dean Proctor, Commercial Bank EGM, Chief Consumer & Private Banking said: "It's vital that SMEs across the country know that Commercial Bank is there to support them. Business ownership and management is a demanding and often complex task having to cover multiple areas such as financial management, procurement, manufacturing/ production, logistics and personnel management. We want to be the bank of choice for SMEs and to assist the business community with their business plans. We are proud to win this award that reflects and confirms the hard work and commitment of the Enterprise Banking team to make Commercial Bank the SMEs bank of choice in Qatar."
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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 116.1 billion as at 31 March 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 29 full service branches and 154 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 March 2015, 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 26.5 billion as at 31 March 2015, 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. A squeeze out has been initiated to increase shareholding to 75%. 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 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.
At 31 March 2015, ABank had total assets of TL 12.4 billion, total loans stood at TL 8.6 billion, customer deposits of TL 5.8 billion and shareholders' equity of TL 987 million.
wwweng.abank.com.tr
© Press Release 2015
