Timeline – 2000 and beyond | Commercial Bank of Qatar

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Timeline – the year 2000 and beyond

2000
2001-2003
2004-2005
2006
2007-2008
2009
2010
2011
2012
2015

2000

New frontiers

For the new millennium, Commercial Bank expanded its Diners Club franchise into various locations, including Yemen, Sudan, Egypt, Syria and Bahrain. Following continuing success, the Tejari Guaranteed Funds 3 and 4 were launched. New services were introduced too, including the websites for Commercial Bank and Diners Club, and Qatar’s first consumer Internet banking service, ‘Bank Key’. Commercial Bank was recognised by Euromoney as ‘Best Bank in Qatar 2000’.
2001-2003

The next phase of growth

On 31 March 2001 Andy Stevens was appointed General Manager in succession to Tim Nunan. 2002 and 2003 saw investment in branches, as Commercial Bank became the first to open pavilions, or mini-branches, in three shopping malls in Doha. In the same period flagship branches were launched at Al Khor and Mesaieed, renovations were made to the offices at Grand Hammad Street and work commenced on Commercial Bank Plaza.
2004-2005

Building partnerships

In 2004 Commercial Bank made history by becoming key sponsor of the MotoGP Commercial Bank Grand Prix of Qatar. Commercial Bank also sponsored the Qatar National Olympic Committee’s new website. Also in that year SMS Banking was launched, bringing new levels of convenience to customers. In 2005 Commercial Bank created a strategic alliance with National Bank of Oman. In the same period a rights issue raised 2.2 billion riyals, helping to fund regional growth plans.
2006

Increasing global prominence

In 2006 Commercial Bank continued its support of sport by becoming the title sponsor of the Qatar Masters golf tournament. The Bank also became the first Qatari bank to have a presence in international capital markets, on the London Stock Exchange. At that time the Bank’s investor base expanded to include foreign shareholders and a senior bond issue was oversubscribed by 120%. Commercial Bank continued to finance The Pearl-Qatar, as the lead bank in partnership with United Development Company.
2007-2008

Strengthened connections and performance

In 2007 Commercial Bank strengthened regional connections by forming a strategic alliance with United Arab Bank in Sharjah, UAE. The Bank also underwrote the Commercial Bank Qatar Masters golf tournament. In 2008 Commercial Bank’s Standard & Poor’s rating reflected stellar performance. That year the Bank announced record profits at the end of the second quarter. Commercial Bank also became the first Qatari company to list shares (in the form of Global Depository Receipts) on the London Stock Exchange.
2009

New heights

On 13 May 2009 the new headquarters, Commercial Bank Plaza, was opened by H. E. Sheikh Hamad bin Jassim bin Jaber Al-Thani, Prime Minister and Foreign Minister of Qatar. The 22-storey building demonstrated best practice in design and sustainability.
2010

Continuing expansion

In 2010 began two new partnerships. Massoun Insurance Services, a joint venture with Qatar Insurance Company, would provide insurance products to Commercial Bank customers, and a strategic partnership with London Metropolitan Business School would help further staff development. Also in that year Commercial Bank launched Mobile Banking services, launched a Swiss-franc bond and won the J. P. Morgan Quality Recognition Award for operational excellence for the sixth consecutive year.
2011

Supporting Qatar’s Vision

In 2011 Commercial Bank won two internationally recognised awards: the Citi Performance Excellence Award and the JP Morgan Quality Recognition Award, for the 7th consecutive year. It also became joint sponsor of the Farr 30 racing yacht at Sailing Arabia. Commercial Bank Investment Services was launched, as was the Limited Editions Rewards programme. A landmark agreement with QDB to finance small and medium-sized enterprises supported the Qatar National Vision 2030. In the same year Commercial Bank signed an agreement with TATA Consultancy Services to deliver back-office processing and IT. It was the first bank in Qatar to be awarded the coveted PCI Card Security Certificate.
2012

Looking to the future

In 2012 a strategic partnership with Katara Cultural Village was announced, making exclusive offers available to Commercial Bank customers. Qtel (now Ooredoo) and Commercial Bank joined together to offer payments via Commercial Bank Mobile Banking. A number of other key advances were made with the launches of the Diners Club Black Card, the Future Leaders Programme, the Alfardan Exchange international remittance programme, Commercial Bank Enterprise and a strategic collaboration with MEEZA, a Qatar Foundation joint venture. In March 2013, Commercial Bank agreed to acquire a 70.84% shareholding in Alternatifbank AS in Turkey ("ABank").”
2015

Our 40th Anniversary

2015 is a special year for Commercial Bank as we celebrate our 40th anniversary as Qatar’s first private bank. Commercial Bank began operations in April 1975 and was founded by a number of this country’s most respected businessmen. These visionary leaders descended from eight prominent Qatari families. Their ambition, entrepreneurship and innovative spirit remains an integral part of CBQ’s core values today.

CBQ’s development over the past 40 years has mirrored the spectacular growth of Qatar. Since introducing the concept of modern banking to the country, we have grown to be one of the leading financial institutions in the region, delivering a profitable track record year after year.