Commercial Bank hosts its annual Analyst Day in Turkey

Doha, Qatar: Commercial Bank has hosted its annual Analyst Day in Istanbul, Turkey, where the senior management team presented details of the Bank’s strategy, key successes over the past year and plans for future growth.

 

Attending the event was Mr. Joseph Abraham, Commercial Bank Group CEO and Alternatif Bank Vice-Chairman; Mr. Rehan Khan, EGM, Chief Financial Officer; Mr. Raju Buddhiraju, Head Wholesale Banking; Mr. Amit Sah, EGM, Consumer Banking; Mr. Fahad Badar, EGM, International Banking; Mr. Parvez Khan, EGM, Treasury, Investments & Strategy; and Dr. Leonie Lethbridge, EGM, Chief Operating Officer.

 

Mr. Joseph Abraham reiterated Commercial Bank’s five-year strategic plan with the vision to be the ‘Best Bank in Qatar’ recognised for its Five Cs: corporate earnings quality, client experience, creativity and innovation, culture, and compliance. Analysts heard how Commercial Bank continues to execute strongly against its strategic plan, and measures taken over the past two years are beginning to be recognised in the market and reflected by a positive trend in the Bank’s share price.

 

A common theme running through the executive management’s presentations was Commercial Bank’s strategic goal of dominating transaction banking in Qatar, with the establishment of Commercial Bank Innovation Services providing the in-house platform to apply innovative technologies and improve the customer experience; both key differentiators for banks in tougher operating environments across the world.

 

A large focus of the event was the performance and future strategy of Commercial Bank’s subsidiary, Alternatif Bank – a mid-size Turkish bank that provides corporate, commercial and retail banking services, and forms a vital part of Commercial Bank’s global operations.

 

Mr. Joseph Abraham, said: “Turkey is a key strategic partner of Qatar and we remain convinced of its long term strategic importance globally and to the Middle East. Our commitment to Turkey is demonstrated through our near $1 billion-dollar investment in Alternatif Bank, the recent injections of $50 million of capital, and our decision to host Commercial Bank’s third annual Analyst Day at their newly purchased Vadistanbul Head Office building in Istanbul.

 

“We have confidence in Turkey, and provide full support to Alternatif Bank, our most significant international investment to date, which we believe has strong growth potential. For the coming periods, it is our priority to support the strategic collaboration between our two countries in finance and trade through Alternatif Bank, which holds a significant place within the Commercial Bank Group with its business model and value creation.

 

Mr Kaan Gür, Alternatif Bank CEO, said: “Alternatif Bank remains on course with our own five-year plan and goals. As trade and investment flows between Qatar and Turkey have increased, Commercial Bank and Alternatif Bank are the natural conduits for these flows by being two well-established banks on both sides. There are a large number of Turkish companies looking to export or invest in Qatar and we believe we can effectively serve their banking needs through our mutual cross-border expertise.”