PHOTO
Award winning social media campaign boosts sales by a third
Doha, Qatar: At the annual Visa Prepaid Conference and Awards, held in Dubai on 18 March, Commercial Bank, one of the leading full service banks in Qatar, and Alfardan Exchange, were presented with the regional "Prepaid Card Marketing Campaign of the Year" award.
The prepaid card behind the award is the Alfardan Exchange Visa Travel Money Card, launched in August 2014 in a joint venture between Commercial Bank and Alfardan Exchange. The reloadable prepaid card was a first of its kind product in the marketplace, allowing cardholders to purchase and hold multiple foreign currencies on one plastic, which can then be used to pay for goods and services or to withdraw money from ATMs worldwide, providing a safe and convenient way to carry and manage foreign currencies when travelling.
Dean Proctor, Commercial Bank Executive General Manager, Chief Consumer & Private Banking said of the event: "Commercial Bank and Alfardan Exchange are delighted to have won this prestigious and be recognised at a regional level for the launch of our innovative product. By keeping innovation at the forefront of our business, Commercial Bank has a proven track record of raising industry standards and pioneering innovative solutions that keep pace with the changing needs of our market."
The President of Alfardan Exchange, Mr. Fahad Alfardan, commented: "We are proud and honored to receive this award, which demonstrates the strategic and positive collaboration between Commercial Bank and Alfardan Exchange by successfully introducing to the market the Alfardan Exchange Visa Travel Money Card to travellers and tourists. This initiative reflects our strong commitment towards quality service and excellence, always striving towards innovative concepts for our customers. The award is a testament of our expertise in the industry for more than 40 years and we will remain dedicated in our continued promise in offering the best services to our valued clients. With the outstanding success of Alfardan Exchange Visa Travel Card we certainly anticipate to introduce more business concepts with similar successes in the future."
Commercial Bank & Alfardan Exchange had been shortlisted to win the award after the success of their social media campaign over a three-week campaign period. The social media campaign promoting the Prepaid card swept through Qatar, reaching over 140,000 people including many new customers and resulting in an impressive 32% increase in card sales as well as an increase in visits to Alfardan Exchange branches across the country.
Powered by Commercial Bank, the Alfardan Exchange Visa Travel Money Card provides a more convenient and secure way of carrying foreign currency, rather than taking cash when travelling and has the added advantage of being accepted online. Initial foreign exchange charges are the same as cash and foreign exchange rates are locked in at the time of sale. Lost or stolen cards can be blocked and replaced for customers' peace of mind and used cards can be easily reloaded at any of Alfardan Exchange branches in Qatar, including the branches located in Alfardan Centre, Najma, Al Wakrah, New Rayyan, Industrial Area and Al Khor for subsequent trips, making them ideal for frequent and business travellers. There is also a secure account website and mobile app that can be set up by the customer, giving the customer real time access to all the required information about their spending, and also enables them to switch their funds between different currencies, depending on their travel plans.
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 115.7 billion as at 31 December 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 29 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 billion as at 31 December 2014, has 61 conventional branches and 4 Islamic branches in Oman and 1 branch each in Egypt, Abu Dhabi and Dubai. UAB is headquartered in Sharjah, with total assets of AED 25.7billion as at 31 December 2014, and operates 31 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 31 December 2014, ABank had total assets of TL 11.2 billion, total loans stood at TL 8.3 billion, customer deposits of TL 5.4 billion and shareholders' equity of TL 967 million.
wwweng.abank.com.tr
© Press Release 2015
