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Special promotions and offers announced coinciding with the Motor Show
Doha, Qatar: Commercial Bank, one of the leading full service banks in Qatar, and this year's exclusive Platinum Sponsor of the Qatar Motor Show 2015, has announced a unique opportunity for customers to win a brand-new Mini Cooper and exceptional rates for Personal and Vehicle Loans during a promotion period coinciding with the Qatar Motor Show 2015.
Speaking during a Qatar Motor Show press conference in the Qatar National Convention Centre, Commercial Bank Executive General Manager, Dean Proctor said: "Commercial Bank is proud to be the exclusive Platinum Sponsor of the Qatar Motor Show 2015, and we have a long association with this world-class event. 2015 is a special year for Commercial Bank as it marks our 40th anniversary since we established as the first Qatari private bank in 1975. Commercial Bank has a long history of excellent relationships with car dealers in Doha and we have been offering Vehicle Loans to customers as far back as 1988. Commercial Bank will continue to cater to market demands with the highest quality customer service and standards for Vehicle Loans. In 2014, approximately 60,000 to 70,000 new cars were sold in the Qatari market and Commercial Bank enjoys a healthy and growing share of the vehicle loan market."
He added: "Commercial Bank is running a special promotion from now until 15 March 2015 for all new and existing Commercial Bank customers who avail a Vehicle Loan or who transfer their salary during the campaign period. As an added reward, during the six days of the Qatar Motor Show, each customer will receive not just one, but two lucky entries to the prize draw, doubling their opportunity to win a brand-new Mini Cooper. The Bank is very much looking forward to seeing people at the Motor Show and at the Commercial Bank booth over the next few days as the bank is also offering a chance to win exciting prizes including 5 travel packages to Ferrari World Abu Dhabi and five mini iPads."
The promotional rates for Vehicle and Personal Loans are for a limited time only, with a special rate of 2.39% flat, (4.43% reducing), up to 3 months payment holiday and a discount of 0.65% on motor insurance. Commercial Bank is also offering Qatari and expatriate customers special Personal Loan rates starting from 4.75% reducing (2.56% flat), and up to 6 months payment holiday.
-Ends-
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 114 billion as at 30 September 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 31 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 3.4 billion as at 30 September 2014, has 62 branches in Oman and 1 branch each in Egypt, Abu Dhabi and Dubai. UAB is headquartered in Sharjah, with total assets of AED 25.2 billion as at 30 September 2014, and operates 28 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 30 September 2014, ABank had total assets of TL 11.7 billion, total loans stood at TL 7.9 billion, customer deposits of TL 5.4 billion and shareholders' equity of TL 883 million.
wwweng.abank.com.tr
© Press Release 2015
