Andy Stevens ... expanding operations
By Pratap John/Chief Business Reporter

Banks need to innovate and launch products and services that still continued to be demanded in a rapidly changing world, said Commercialbank Group CEO Andy Stevens.
“In the last four years, we have seen tremendous changes in the financial services industry. We are going to see more. So it is up to us to be in a mindset that can look to future, and innovate services that still continued to be demanded, and can make for us, the returns we need to satisfy our shareholders,” Stevens said in an interview with
Gulf Times.
Asked how banks can improve their bottomline given tight overall market conditions, increasing regulations and competition, Stevens said, “The whole world is changing. You can identify segments, sectors, and pinpoint whether they are regulatory or social changes, or even technologically induced changes have occurred.
“The simple truth is you have got to be prepared for change. There is no such thing as status quo. Status quo is not going to last very long. We got to be, as an institution in a vastly changing landscape, prepared to encounter change, and handle it well. So, quite frankly, whether or not regulations were introduced to prohibit lending to retail customers, cap interest rates, quite frankly, that’s the sort of change we have come to expect and accept.”
On technology’s role in the financial services industry, particularly banking, Stevens said technology makes the requirement of space smaller and more efficient.
“So that allows us to make use of that space more creatively. And from our perspective, the customers have become discerning, more demanding. So we got to bring greater value to the customer.”
But with electronic banking fast catching up, will we see the number of bank branches either stagnating or falling?
“I still think a branch has a very important role to play, even with Internet growth and usage,” said Stevens .
“I think the culture of our country; Qatar demands branch-based services. That’s very important. We recognise that. We are not trying to chase people out of our premises. On the contrary, we are trying to welcome them in, in different ways today,” the Commercialbank Group CEO said.
Stevens highlighted the facilities that are now being provided in Commercialbank branches across the country and said, “Our view is that customers must be able to meet all their banking needs under one roof. Commercialbank offers a unique blend of quality products and services with a legacy of superior customer service. Our branches now have a one-stop-shop approach to banking.”
Stevens said the recently opened D-Ring Road branch of Commercialbank has an “impressive” trading floor, which is the “centrepiece” of the new facility.
A separate section has been wholly dedicated to Commercialbank’s Sadara services, offering customers wealth management and “exclusive one-to-one” relationship banking.
As part of Commercialbank’s drive to offer comprehensive financial services, the D-Ring branch also houses dedicated booths in its grand lobby, where customers can benefit from services offered by QIC, Asteco and the Commercialbank’s own vehicle finance team, he said.

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