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Doha - Commercial Bank, Qatar's first private bank,has launched its latest Future Leaders Executive Training Programme for staff at anofficial ceremony in Tornado Tower. First run in 2009, the Future Leaders Programme is one of Commercial Bank'sproprietary educational and professional career advancement programmes, and is delivered in partnership with HEC Paris,ranked number one in the world for Executive Education by the Financial Times in 2014 and a member of Qatar Foundation
Twenty-eightCommercial Bank staff and two employees from the Bank'sTurkish alliance bank,ABank, will take part in the Future Leaders Programme. The Programme has been designed specifically for Commercial Bank by HEC Paristo develop strategic and leadership capability across the Bank.
Over the course of thirteen months, selected Commercial Bank staff will undergo a unique and challenging learning journey involving seven different modules centered around leadership. Participants who complete the Future Leader Programmesuccessfully will be eligible to receive credits which could be applied towards coursework on Masters Degrees at HEC Paris or other institutions, subject to fulfilling the institution's admissions requirements.
Speaking at the launch ceremony, Commercial Bank Deputy CEOColin Macdonald said: "Commercial Bank values our employees and the Future Leaders Programme is testament to the Bank's desire to nurture and support budding talent within our organisation. We are committed to working with HEC Parisand Qatar Foundation to provide talented young individuals at Commercial Bank with world-class training to fast-track their careers towards positions of leadership."
Commercial Bank EGM, Chief Human Capital Officer Sharoq Al Malki said: "Commercial Bank is committed to investing in human capital and the Future Leaders Programme is firmly in line with the Qatar National Vision 2030 by providing our talented employees with the encouragement, skills and training they need to succeed as future leaders of the Bank and Qatar's banking industry.Thisprogramme gives the right support and skills to our nation to be able to continue Commercial Bank's and Qatar's growth journeytowards building a knowledge-based economy."
Dean & CEO of HEC Paris in Qatar, Prof. Laoucine Kerbache said: "The Future Leaders Programme is a significant step forward in enhancing the leadership skills of Commercial Bank employees. As I wish participants all the success in the programme, I alsowishto thank the management of Commercial Bank for their trust, confidence and support that they extended to HEC Paris, which enabled us to design a comprehensive and practical programme. We look forward to further enrich our partnership with Commercial Bank and continue to design and deliver executive training programmes in the near future."
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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.
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
© Press Release 2015
