Commercial Bank will focus more on Turkey to ensure its Turkish subsidiary Alternatifbank grows and delivers returns on the equity it has put in, said Group CEO Joseph Abraham. 
“We will make sure Turkey grows and delivers returns on the equity we have put in. ABank remains a strategic asset and an important opportunity for us to leverage outside the GCC market. We have also appointed a new well-experienced CEO and two new Turkish board directors at ABank, who will lead its strategic re-shape and growth.”
He said Commercial Bank was adding more capital and focusing on the Turkish market as part of a new strategic plan for Turkey and to benefit from “closer political and economic ties” between the two countries.
Alternatifbank delivered a net profit of TL49mn (QR49mn) for the full year that ended in December 2017 compared with TL2mn net profit for the same period in 2016.
Net operating income increased by 7.5% to TL516mn (QR515mn) for the full year that ended in December 2017, from TL480mn due to an increase in net interest income. 
As on December 31 2017, ABank had increased its customer lending by 24% to TL14.1bn from TL11.3bn in December 2016. 
Customers’ deposits increased by 32% to TL10.7bn during the full year that ended in December 2017, compared to TL8.1bn during the same period last year.
Abraham also said there was no issue in relation to the availability of dollar in the Qatari market.
“We have no issues meeting the legitimate demand for dollar. The Qatar Central Bank is providing dollars and is supporting the peg,” the CEO said.
He said Commercial Bank was planning a “Formosa” bond issue and also considering potential deals in Swiss Francs and Australian dollars. 
The bank expects to pay 15 and 20 basis points more on future debt issuance than before the blockade, he added.