Doha, Qatar: Commercial Bank has officially opened its latest branch at the popular Doha Festival City mall, On Tuesday 2 October. The new, state-of-the-art branch is open seven days a week to provide full suite of Branch Banking Services and ATM services to customers visiting the mall.
Commercial Bank has invested heavily to make its banking services convenient for customers. While a significant sum of this investment has been in digital products and services, branches remain integral to how the Bank delivers its services to customers, as it understands customers’ preferences for personal and face-to-face interactions with staff and Relationship Managers.
The inauguration event was attended by Commercial Bank’s top officials. The Bank’s Board of Directors were present, including its Chairman Sheikh Abdullah bin Ali bin Jabor Al Thani, Vice-Chairman Mr. Hussein Ibrahim Al Fardan, Managing Director Mr. Omar Hussain Al Fardan. Group CEO Mr. Joseph Abraham, along with VIP customers, senior dignitaries and other Commercial Bank executives were also in attendance.
During the event, the Bank announced details of a new Marketing Partnership with entertainment company Trimoo Parks, operator of Angry Birds World™ at Doha Festival City and the soon-to-open Snow Dunes™, Juniverse™ and Virtuocity™ theme parks. A Memorandum of Understanding to this effect was signed by Commercial Bank GCEO Mr. Joseph Abraham and Mr. Luay Darwish, Co-Founder and Deputy CEO, Trimoo Parks at the event.
The Marketing Partnership will enable Commercial Bank customers to enjoy exclusive ‘value added services’ at the Park, an exclusive counter for Sadara and Private Banking customers and the soon-to- launch online top-up to customers.
Sheikh Abdulla bin Ali bin Jabor Al Thani, Chairman Commercial Bank, said: “Since the Bank opened its doors for business over 42 years ago, our branches have always been a vital strategic channel for the Bank. Our goal is to ensure that they are located in the most convenient localities for our customers. That is why we chose Doha Festival City as the newest addition to our branch network. The mall is one of Qatar’s most popular shopping, dining and entertainment venues, making it easy for customers to access our personal banking services during their visits to the mall.”
Joseph Abraham, Group CEO of Commercial Bank, said: “Our customers want to access banking services in the way that is most convenient for them. Some prefer to make the most of our digital services and do all their banking online, while others prefer to visit branches in person. Most of our customers want both options. For example, they may carry out everyday transactions online or via their mobile devices, whilst choosing to visit our branches to focus on their financial planning and more complex transactions. It’s all about providing a holistic experience for our customers.”
Amit Sah, EGM, Head of Consumer Banking at Commercial Bank, said: “We aim to be the bank of choice in Qatar. With our impressive suite of digital products and services, combined with our network of strategically-located branches, I truly believe that Commercial Bank offers an unrivalled customer experience in Qatar. We continuously strive to work with partners who share the same vision, and our agreement with Trimoo Parks will help us build upon our shared goals of delivering unique and new experiences.”
The Doha Festival City branch provides extended banking hours for customers from 9am to 2:30pm and 3:30pm to 9pm (Saturday to Thursday) and 3:30pm to 9pm (Friday). It is part of the Bank’s strategic branch network that includes 29 full-service branches and 172 ATMs conveniently located across Qatar, in addition to the digital banking channels.
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About Commercial Bank
Commercial Bank has total assets of QAR 139.9 billion as at 30 June 2018. 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 the exclusive Diners Club franchise in Qatar. The Bank’s countrywide network includes 29 full service branches and 172 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. Expanding its geographical footprint, Commercial Bank is 100% owner of Alternatif Bank in Turkey and has a strategic partnership with the National Bank of Oman (NBO). NBO is the second largest bank in Oman with total assets of OMR 3.4 billion as at 30 June 2018 and has 69 branches, including 1 branch each in Egypt, Abu Dhabi and Dubai. Commercial Bank has ceased discussion with Tabarak Investment to negotiate terms of the potential sale of the Bank’s stake in United Arab Bank.
Commercial Bank enjoys strong credit ratings of (A3) 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 issued in March 2018 is the largest ever CHF bond from the MENA region.
Commercial Bank was awarded the “Best Remittance Bank in the Middle East 2018”, “Best Retail Bank in Qatar 2018,” “SME Bank of the Year in the Middle East 2017,” and “Best Cash Management Bank in Qatar 2017” by The Asian Banker. 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 also won 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 Alternatif Bank
Alternatif Bank was established in 1991. Commercial Bank became the majority shareholder in Alternatif Bank in 2013 holding a 74.24% stake, following the acquisition of Alternatif Bank 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 Alternatif Bank from Anadolu group. Currently the Bank owns 100% of Alternatif Bank shares.
Alternatif Bank is a mid-size Turkish bank that provides its customers in the corporate, commercial and retail banking segments with high value products, services and solutions through a country-wide network of 53 branches widely distributed across Turkey. Alternatif Bank works closely with Commercial Bank to realise synergies and leverage regional trade opportunities.
As at 30 June 2018, Alternatif Bank had total assets of TL 26.0 billion, total loans stood at TL 16.5 billion, customer deposits of TL 13.4 billion and shareholders’ equity of TL 1.6 billion.
https://www.alternatifbank.com.tr/en/
About Trimoo
At our Trimoo Play Lab we deliver location-based entertainment spaces filled with entertainment experiences as active as you. We look to develop innovative solutions to instill joy and create lasting impressions on your doorstep. Because through creativity, innovations, games and design thinking, we believe we can revolutionize the way people experience the world and turn the ordinary into extraordinary. Today our Trimoo Play Labs are spread across Qatar and the Netherlands with ambitions to expand across the globe. You can visit our pioneering concept in the Middle East, where we’re developing Qatar’s largest indoor and outdoor family entertainment destination. Home to Doha Festival City, Trimoo’s quartet of active entertainment is made up of:
- Virtuocity – a world where you can battle, tackle and stamp on the shoulder of giants in a purpose-built gaming arena.
- Juniverse – a planet where you can lead the charge to build the first city in space, and defend it with your hearts, minds and friends.
- Snow Dunes – an off-post thinking bringing the mountains to you and taking the great outdoors indoors.
- And finally, Angry Birds World, where you can run jump and catapult yourself into extended play.
This is a sneak peak of our ambitions and the result of our team of creative professionals perfecting the blend between innovations and operational excellence.
Abeer Marwan Al Kalla
Head of Corporate Communications and CSR
The Commercial Bank (P.S.Q.C.)
P.O Box 3232, Doha, State of Qatar
Direct Tel: 44490292
abeer.alkalla@cbq.qa
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