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Doha - Qatar: Commercial Bank, Qatar's first private bank, has selected MSCI Inc., a leading provider of investment decision support tools worldwide, as the provider of risk management tools for the bank's investment portfolio.
Commercial Bank will utilize MSCI's RiskMetrics RiskManager to analyse market risk on its investment portfolio, which includes exposure to fixed income and equity assets through direct and derivative-based securities.
Rana A Salatt, EGM & Chief Risk Officer, for Commercial Bank, said: "One of Commercial Bank's core objectives is to safeguard our multiple stakeholder interests. We are committed to enhancing our existing robust risk management framework, which serves to encourage measured risk-taking activities whilst ensuring risk discipline is properly exercised. Our activities are designed to build a world-class market risk function at the bank, and MSCI RiskManager will facilitate Commercial Bank's Risk Management vision".
Roveen Bhansali, Managing Director and Head of Risk Management Analytics for MSCI, said: "We are delighted to add such a prestigious client as Commercial Bank of Qatar to our client list. Commercial Bank's aim is to strengthen and accelerate their investment portfolio analysis, and we are confident that the range of products and services we possess supported by the rigor of our research will support their goals".
MSCI RiskManager provides market exposures and sensitivities across a broad range of instruments including, Commodities, Equities, Fixed Income, FX, Mortgages and Structured Credit, using multiple Value at Risk (VaR) methodologies and flexible stress-testing. It allows clients quickly to set up custom reports and automate overnight batch processing, run ad-hoc analyses, design stress test scenarios and perform what-if analyses to rebalance or hedge a portfolio. MSCI RiskManager is widely used by investment professionals, including banks, asset managers and hedge funds.
For more information, please contact:
Qatari media
Ibrahim Al-Emadi
Head of Corporate Communications
Commercial Bank
Tel: +974 4475 4748
Email: ibrahim.alemadi@cbq.qa
About Commercial Bank
Commercial Bank has total assets of QAR 115.7 billion as at 31 December 2014. 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 152 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 billion as at 31 December 2014, has 61 conventional branches and 4 Islamic branches in Oman and 1 branch each in Egypt, Abu Dhabi and Dubai. UAB is headquartered in Sharjah, with total assets of AED 25.7billion as at 31 December 2014, and operates 31 branches across the emirates in the UAE. Building on the successful execution of the Bank's expansion strategy to date, Commercial Bank completed the acquisition of a majority stake in Alternatifbank in Turkey in July 2013.
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. 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 is listed on the Irish stock exchange.
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 Alternatifbank (ABank)
ABank was established in 1991 and has been listed on the Istanbul Stock Exchange since 1995. 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. Anadolu Group remains a significant shareholder retaining 25% of shares in ABank.
ABank is a mid-size Turkish bank that predominately serves medium-sized companies through a country-wide network of 73 branches in 27 cities. 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 the "mass affluent segment" in terms of customer profile with tailor made products.
At 31 December 2014, ABank had total assets of TL 11.2 billion, total loans stood at TL 8.3 billion, customer deposits of TL 5.4 billion and shareholders' equity of TL 967 million.
wwweng.abank.com.tr
© Press Release 2015
