Attractive packages offered to new vehicle owners
Doha, Qatar: Commercial Bank, Qatar's first private bank and this year's Gold Sponsor of the Qatar Motor Show, has invited local residents to visit the Bank's stand at the Qatar National Convention Centre (QNCC) and take advantage of an impressive new bundle of services.
The bundle includes valuable offers such as vehicle loan rates at 2.19% flat and a call-for-cash service where customers can transfer funds available on their Commercial Bank Credit Cards into a Current Account, repayable over 12 months at an attractive 0%. Customers also have access to the Bank's "Life in Qatar" live station, where new arrivals to Doha can meet a Commercial Bank advisor to help ease the administrative burden of moving to a new country; receive giveaway tickets for the Commercial Bank Moto GP; take advantage of a special offer from Titanium, well-known suppliers of window-tint for car owners; and get special rates and offers on motor insurance.
Commercial Bank describes its newest custom bundle as being of interest to all motor enthusiasts but of special interest to anyone over eighteen looking to buy a vehicle.
During a VIP event at the QNCC to mark the opening of the Motor Show, Dean Proctor Commercial Bank's EGM Retail and Consumer Banking said: "The Qatar Motor Show is an exceptional and very important event in the year and one which Commercial Bank is proud to sponsor. With our new, higher value services for vehicle owners, we are very much looking forward to seeing people here at the Motor Show over the next few days."
-Ends-
For more information, please contact:
Qatari media
Mona Abdallah
Head of Corporate Communications
Commercial Bank
Tel: +974 4449 0169
Email: m.abdallah@cbq.qa
About Commercial Bank
Commercial Bank has total assets of QAR 113 billion as at 31 December 2013. 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 33 full service branches and 154 ATMs.
Profitable every year since incorporation in 1975, 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 2.9 billion as at 31 December 2013, has 64 branches in Oman and one branch each in Egypt and in Abu Dhabi. UAB is headquartered in Sharjah, with total assets of AED 21.5 billion as at 31December 2013, and operates 25 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. Additionally, 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.
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 (as of 31 December 2013). 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 2013, ABank had total assets of TL10.9 billion, total loans stood at TL6.7 billion, customer deposits of TL 4.7 billion and shareholders' equity of TL574 million.
wwweng.abank.com.tr
© Press Release 2014
