Abraham and Gur with senior Alternatif Bank officials in Istanbul.
“We will become the bank of insightful merchants; we will continue our journey as Alternatif Bank,” Gur said at a media event at the Four Seasons Bosphorus, which was held as part of its new brand transformation – from ABank to Alternatif Bank.
ABank, which became a 100% subsidiary of Qatar’s Commercial Bank in end-2016, has acquired a new brand identity and will continue its operations as Alternatif Bank.
Gur, along with Alternatif Bank vice chairman Joseph Abraham, also the Group CEO of Commercial Bank, shared the principles of the bank’s transformation project and its goals and said, “We will be the bank of insightful trade by focusing on growth for each of our customer’s business or trade journeys.”
Gur said Alternatif Bank will act as a “bridge” between Turkey and Qatar, two very friendly countries and whose bilateral trade is growing rapidly.
Being part of Commercial Bank, “one of the most established, trusted and innovative” financial institutions not only in Qatar but also the entire Mena (Middle East and North Africa) region would help Alternatif Bank in designing and launching products that cater to various segments of the customers.
Gur said one of the focus areas will be the small and medium enterprises (SMEs), who play a key role in the national economy.
“I know Commercial Bank has strong expertise in many areas including SMEs. We wish to make the best use of the expertise of Commercial Bank in key areas including SME financing,” Gur told Gulf Times.
He said the number of Alternatif Bank branches in Turkey would certainly grow over the coming years.
“Over the next three years, I see our branch network reaching between 70 and 75, from the current 53. Right now our target is to fully equip our existing branches so that we will be the companion of our customers in their long road to success. We will grow more than the sectoral average in Turkey”
Yesterday, the corporate rebranding was deployed at all Alternatif Bank branches across Turkey.
Alternatif Bank, he said, was aiming to grow alongside its customers by financing projects that will generate employment and infrastructure in the Turkish economy in the short term.
Depicting the transformation as an indication of real change in common banking approaches, Gur said, “Our power roots from Commercial Bank’s insightful business culture, capital structure and experience, as well as its international reputation and vision; not to mention our trust in our expert staff.
“As a renewed entity, we aim to work with industries and enterprises of all sizes that dream of growth, believe in a better future, and contribute to our country’s production. We will serve our customers by hearing, listening to, and understanding them well and by meeting their needs as quickly as possible.”
Alternatif Bank, which entered the Turkish banking industry in 1991, delivered a net profit of 49mn Turkish liras (QR49mn) for the full year that ended in December 2017 compared with 2mn liras net profit for the same period in 2016.
As on December 31, 2017, Alternatif Bank had increased its customer lending by 24% to 14.1bn liras from 11.3bn liras in December 2016.
Customers’ deposits increased by 32% to 10.7bn liras during the full year that ended in December 2017, compared to 8.1bn liras during the same period in the previous year.