Doha, Qatar: With between 10,000 and 12,000 expatriates relocating to Qatar every month, Commercial Bank, one of the leading full service banks in Qatar, has launched a wide-ranging initiative to help these new arrivals feel at home.
A significant stress associated with moving to a new country is opening a bank account. Without it, new arrivals cannot deposit a salary, acquire a credit card, take out a loan, rent an apartment, or even use an ATM for free. Commercial Bank's "Life in Qatar" initiative is designed to ease the burden of moving, helping customers not only open a bank account before they come to Qatar, but also assist with many of the other hurdles expatriates face when moving.
With Commercial Bank's "Life in Qatar" initiative, expatriates can open a bank account online before arrival, remit money to cover initial expenses and discover essential information about Qatar via Commercial Bank's dedicated "Life in Qatar" website, [at www.lifeinqatar.com].
The "Life in Qatar" service provides customers with their Commercial Bank debit card upon arrival and helps them get connected with a free phone and SIM card. Customers will also receive hotel discounts on their first two nights in Doha and new Sadara customers will have a private airport transfer arranged for them from the airport to their destination of choice.
"Life in Qatar" benefits continue long after arrival, as customers receive 30% discounts on weekly car rentals and two free online international transfers when utility bills are paid online. Customers can also unwind with discounts at the B/Attitude Spa in Doha.
Speaking at a Commercial Bank presentation that was recently held for senior HR professionals, Dean Proctor, Executive General Manager of Retail and Consumer Banking said: "Expatriates are always looking for ways to call Doha home and Commercial Bank can help them to feel at ease before and after they arrive with the range of benefits provided by our 'Life in Qatar' initiative."
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About Commercial Bank
Commercial Bank has total assets of QAR 85.4 billion as at 30 June 2013. 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 151 ATMs.
Profitable every year since incorporation in 1975, 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 2.8 billion as at 30 June 2013, has 66 branches in Oman and 1 branch each in Egypt and in Abu Dhabi. UAB is headquartered in Sharjah, with total assets of AED 18.4 billion as at 30 June 2013, and operates 18 branches across the emirates in the UAE.
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. Additionally, 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.
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.
www.cbq.qa
About ABank
ABank was established in 1991. Commercial Bank became a majority shareholder in ABank in 2013 following the acquisition of 70.84% of ABank's shares from Anadolu Group. Anadolu Group remains a significant shareholder.
ABank is a mid-size Turkish bank that predominately serves medium-sized companies through a country-wide network of 69 branches in 25 cities (as of 30 June 2013). 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 "mass affluent segment" in terms of customer profile with tailor made products.
At the end of December 2012, ABank had total assets of TL 7.9 billion ($ 4.4 billion), total loans stood at TL 5.1 million, customer deposits of TL 4.2 million and shareholders' equity of TL 601 million.
wwweng.abank.com.tr/
For more information, please contact:
Qatari media
Mona Abdallah
Head of Corporate Communications
Commercial Bank
Tel: +974 4449 0169
Email: m.abdallah@cbq.qa
© Press Release 2013
