Doha, Qatar: In an event set to become an important annual feature of Doha's academic calendar, Commercial Bank recently welcomed 22 new university graduates from prestigious local universities onto the bank's Graduate Development Programme (GDP) following the programme's highly successful first year during 2012-2013.
Commercial Bank is one of Qatar's leading full-service banks, and this three-year programme aims to fast-track the career development of young university graduates by allowing them to experience all the business functions of the Bank through five different rotational work placements in its high-performing environment. Participants benefit from assistance in the form of technical training, mentoring from senior staff, a buddy system, team-building activities, and dedicated expert support to help them map out their individual career paths. The programme enhances graduates' communications, business and leadership skills, and helps them to discover their preferred area of specialisation to pursue in the future.
The 2013 cohort of 22 graduates will work directly with senior banking staff to learn about Commercial Bank's customers, systems and processes, being challenged as they progress to take on further responsibility and to deal with more complex issues. High performers can expect to be fast-tracked through an annual promotions system, and upon completion may even rise to management status.
Mr. Abdulla Saleh Al Raisi, CEO of Commercial Bank, commented: "In line with Commercial Bank's continuing focus on Qatari development towards Vision 2030, we remain committed to investment in the young talent of our nation and to strengthening the future of Qatar as a global financial hub by providing specialised training in an ideal learning environment towards a long and successful financial career. The success of the Graduate Development Programme last year and its near-doubling in numbers this year are excellent indicators that it is already helping to attain this vision."
**Ends**
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.
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
