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Doha, Qatar: Commercial Bank, Qatar’s first private bank, confirmed 10 Qatari graduates last week in line with the National Development Strategy.
The recruitment drive is part of Commercial Bank’s National Development Programme that invests significant resources towards the skills and training of young Qataris as part of the Bank’s commitment to developing talent in line with the National Vision 2030 for the benefit of current and future generations.
The talented students had been sponsored by Commercial Bank throughout their entire university journey, and secured their employment after an innovative group interview day, where the students were tested on various competencies in line with global standards and had the opportunity to present themselves to Commercial Bank’s Senior Executive Management.
The group of employees will be placed under various business units within the bank, where they will be mentored, trained and developed to excel in their careers as nationals and representatives of the organization.
Commercial Bank Group CEO Joseph Abraham said: “We welcome our new graduates to the Commercial Bank team and the beginning of what we hope will be long and successful careers with us. In line with our objective of becoming a leading employer of choice in Qatar, Commercial Bank is in the process of revamping our National Development Strategy and we plan to launch an ambitious range of initiatives in Q2 2018 that will see top graduates in Qatar who meet our strict criteria compete to be part of a very inspirational new training programme.”
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For more information please contact:
Layla Salem
Public Relations and Corporate Communications Manager
Commercial Bank
Tel: +974 440 0178
Email: layla.salem@cbq.qa
About Commercial Bank
Commercial Bank has total assets of QAR 134 billion as at 30 September 2017. 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 franchise in Qatar. The Bank’s countrywide network includes 29 full service branches and 179 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 3.4 billion as at 30 September 2017, has 60 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 20.6 billion as at 30 September 2017, and operates 14 branches across the UAE. Building on the successful execution of the Bank’s expansion strategy to date, Commercial Bank acquired a majority stake in Alternatifbank in Turkey in 2013 and became a 100% owner through a put option exercised on 19 December 2016.
Commercial Bank enjoys strong credit ratings of (A2) from Moody’s, (A+) from Fitch, and (BBB+) 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) 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 and June 2016 are listed on the Irish Stock Exchange.
Commercial Bank was awarded the “Best Retail Bank in Qatar” and named the “SME Bank of the Year in the Middle East” for 2017 by The Asian Banker based on its specialised banking services for small and medium Enterprise business customers.The award “SME Bank of the Year” adds to similar national awards in 2015 and 2016. Commercial Bank also won the “Best New Product in Qatar for 2016” for its Visa Signature Credit Card for SMEs by Visa, Inc. in addition to the “Best SME Credit Card” from The Banker Middle East - Qatar product awards. In recognition of its CSR activities benefitting the Qatari community, Commercial Bank was awarded the “Best CSR Report”, at the Corporate Social Responsibility awards ceremony for organisations in Qatar. The Bank won the “Best Cash Management Bank in Qatar” award at The Asian Banker Middle East & Africa Transaction Banking Awards in 2016 and the “Best Investor Relations award for mid-cap companies” at the Qatar Stock Exchange’s annual IR awards ceremony in 2017 recognising best practice in Investor Relations.
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 reflects the Bank’s promotion of excellence in sports and its keen interest in enhancing Qatar’s international sporting reputation. www.cbq.qa
About Alternatifbank (ABank)
ABank was established in 1991. 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. In December 2016 the Bank completed the put option exercise of purchasing 25% of share in Abank from Anadolu group. Currently the Bank owns 100% of ABank shares.
ABank is a mid-size Turkish bank that predominately serves medium-sized companies through a country-wide network of 53 branches. ABank provides commercial/corporate banking services and products, with a special focus on the growing segment of Small and Medium-Sized Enterprises. ABank’s main product ranges cover trade finance instruments, working capital finance, cash management, and portfolio management.
As at 30 September 2017, ABank had total assets of TL 18.9 billion, total loans stood at TL 13 billion, customer deposits of TL 8.8 billion and shareholders’ equity of TL 1.6 billion.
© Press Release 2017
