Doha, Qatar: Commercial Bank, Qatar’s first private bank, has announced changes in the leadership roles that have responsibility for Commercial Bank’s High Net Worth and VIP customers. Bouchra Sebbata, previously AGM, Head of Sadara Wealth Management, has been appointed to now lead a combined unit comprising both Private Banking and Sadara as AGM and President of High Networth clients at Commercial Bank.
The appointment underscores Commercial Bank’s commitment to developing and promoting home-grown talent and provide opportunities to skilled and high potential individuals to increasingly take up more challenging roles in the bank. Ms. Sebbata’s appointment will allow Commercial Bank to serve it’s most prestigious customers under a more unified platform.
Ms. Sebbata has 19 years banking experience, of which 14 years have been dedicated to Commercial Bank. She has served in a range of senior roles across Retail and Corporate Banking. She holds a post graduate certificate in management and leadership from London Metropolitan University in the UK, and a BA in Mathematics and Physics from Qatar University.
Commercial Bank EGM, Head of Retail and Consumer Banking, Amit Sah said: “Growing our Wealth Management business is a strategic priority for Commercial Bank. Under Bouchra’s leadership, our Sadara business has grown tremendously, and her first-hand knowledge and experience dealing with these customers has enabled this expansion. Bouchra’s appointment will help bring our Wealth Management business to the next stage of development.”
Bouchra Sebbata said: “It is an honor to be entrusted with this opportunity, to serve our most valued customers and to lead the great people that work so hard to ensure we deliver the highest of service standards to them.”
For more information please contact:
Shaikha Ahmad M A Al-Haidose
Unit Head, External Communication and CSR | Marketing
The Commercial Bank (P.S.Q.C.) | P.O Box 3232, Doha, State of Qatar
Direct Tel: 44490356
Shaikha.alhaidose@cbq.qa
About Commercial Bank
Commercial Bank has total assets of QAR 138.4 billion as at 31 December 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 the 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. Expanding its geographical footprint, Commercial Bank is 100% owner of Alternatifbank 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 3.5 billion as at 31 December 2017, has 60 conventional branches and 6 Islamic branches in Oman and 1 branch each in Egypt, Abu Dhabi and Dubai. Commercial Bank has entered into an exclusivity agreement 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 (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,” “SME Bank of the Year in the Middle East,” and “Best Cash Management Bank in Qatar” for 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 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 31 December 2017, ABank had total assets of TL 20.6 billion, total loans stood at TL 14.1 billion, customer deposits of TL 10.7 billion and shareholders’ equity of TL 1.6 billion.
© Press Release 2018
