Commercial Bank’s five-year strategic plan with a vision to be the market leader in Qatar and its most significant international investment to date in Turkey’s Alternatif Bank were under the spotlight at its ‘Annual Analyst Day’ in Istanbul yesterday.
Commercial Bank Group CEO and Alternatif Bank vice-chairman Joseph Abraham and the senior management team presented details of the bank’s strategy, key successes over the past year and plans for future growth at the ‘Annual Analyst Day’ held at the newly purchased Vadistanbul Head Office building of Alternatif Bank in Istanbul.
The headquarters will be formally inaugurated this afternoon.
Abraham reiterated Commercial Bank’s five-year strategic plan with the vision to be the ‘Best Bank in Qatar’, recognised for its Five Cs: corporate earnings quality, client experience, creativity and innovation, culture, and compliance.
Analysts heard how Commercial Bank continues to execute its strategic plan, and its measures taken over the past two years are beginning to be recognised in the market, reflected by a “positive trend in the bank’s share price”.
A common theme running through the executive management’s presentations was Commercial Bank’s strategic goal of dominating transaction banking in Qatar, with the establishment of ‘Commercial Bank Innovation Services’ providing in-house platform to apply innovative technologies and improve the customer experience; both key differentiators for banks in tougher operating environments across the world.
A large focus of the event was the performance and future strategy of Commercial Bank’s subsidiary, Alternatif Bank – a mid-size Turkish bank that provides corporate, commercial and retail banking services, and forms a vital part of Commercial Bank’s global operations.
“Turkey is a key strategic partner of Qatar and we remain convinced of its long-term strategic importance globally and to the Middle East. Our commitment to Turkey is demonstrated through our near $1bn-dollar investment in Alternatif Bank, the recent injections of $50mn of capital, and our decision to host Commercial Bank’s third annual Analyst Day at their newly purchased Vadistanbul Head Office building in Istanbul,” Abraham said.
“We have confidence in Turkey, and provide full support to Alternatif Bank, our most significant international investment to date, which we believe has strong growth potential. For the coming periods, it is our priority to support the strategic collaboration between our two countries in finance and trade through Alternatif Bank, which holds a significant place within the Commercial Bank Group with its business model and value creation.
Alternatif Bank CEO Kaan Gür said, “Alternatif Bank remains on course with our own five-year plan and goals. As trade and investment flows between Qatar and Turkey have increased, Commercial Bank and Alternatif Bank are the natural conduits for these flows by being two well-established banks on both sides. There are a large number of Turkish companies looking to export or invest in Qatar and we believe we can effectively serve their banking needs through our mutual cross-border expertise.”
Among the other senior Commercial Bank executives who attended the meeting were Rehan Khan, executive general manager and chief financial officer; Raju Buddhiraju, head (Wholesale Banking); Amit Sah, executive general manager (Consumer Banking); Fahad Badar, executive general manager (International Banking); Parvez Khan, executive general manager (Treasury, Investments & Strategy); and Dr Leonie Lethbridge, executive general manager and chief operating officer.
Business / Business
Commercial Bank strategy, key successes, growth plans highlighted at Istanbul event
Abraham, Gu00fcr and other Alternatif Bank executives at the ‘Annual Analyst Day’ in Istanbul yesterday.
