Timeline – the 1980s | Commercial Bank of Qatar

About us > Our history > Timeline: 1980s

Printطباعة

Timeline of the 1980s

1980-1981

Going it alone

In 1980 Commercial Bank’s first full-service branch was opened at Souk Al Ahmed. A new General Manager, Finlay Moodie, was hired direct from American Express, ending Chase Manhattan’s role in providing management services. In 1981 the contract with Chase Manhattan Bank officially ended as a result of Commercial Bank’s consistent success and growth. Fully independent, the Bank was now able to build on shareholder funds, reserves and fully invest in expansion.
1982-1984

New premises

In 1982 Commercial Bank bought a site in Grand Hamad Avenue for the construction of a new head office. In 1983 the second branch was opened in Al-Wakrah, outside of Doha. In 1984, due to constant expansion, staff numbers reached 90. To accommodate this, an extension was built onto the original head office.
1986-1987

Growth and endorsement

In 1986 Commercial Bank received an A-rating from Capital Intelligence. In 1987 the new head office was opened on Grand Hamad Street and the Bank received an A-rating from Capital Intelligence for the second year in a row.
1988

Modernisation and growth

In 1988 Commercial Bank was the first bank in Qatar to introduce Personal Loans and Vehicle Loans. At the same time, the Bank’s accounting system was computerised, using a system called WANG. That year Tim Nunan became General Manager for the next 12 years. Under his leadership, profits doubled in the first year.

1989

The first Ladies’ Branch

In 1989 Andrew Stevens, who went on to become CEO, was hired. In that same year Qatar’s first Ladies’ Branch opened as a full-service facility operated entirely by female staff. A branch was also opened in West Bay, the Investment Services division was launched and an agreement was made with Fidelity Investments to market their products.