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Commercial Bank PSQCAnnouncement

06/09/2014 02:12

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RNS Number : 3609J
Commercial Bank of Qatar (Q.S.C.)
11 June 2014 
 
NEWS RELEASE 
 
Commercial Bank of Qatar 
 
Doha, 10 June 2014 - "The Commercial Bank of Qatar (Q.S.C.) ("Commercialbank")
announces that it has filed to the Irish Stock Exchange ("ISE") its updated
Base Prospectus dated 10 June 2014 relating to Commercialbank and its
subsidiary, CBQ Finance Limited's, U.S.$ 5,000,000,000 Euro Medium Term Note
Programme guaranteed by Commercialbank (in the case of Notes issued by CBQ
Finance Limited). 
 
The Commercial Bank of Qatar (Q.S.C.), rated A1 by Moody's, A- by S&P and A by
Fitch, has mandated BofA Merrill Lynch, HSBC and Morgan Stanley to arrange on
its behalf a series of meetings targeting fixed income investors commencing on
Thursday 12 June. A USD benchmark Reg S transaction may follow subject to
market conditions. ICMA/ FCA Stabilisation applies" 
 
-     END   - 
 
For more information please contact: 
 
Mona Abdallah 
 
Head of Corporate Communications 
 
Commercial Bank 
 
Tel: +974 4449 0169 
 
Email: m.abdallah@cbq.qa 
 
Notes to Editors 
 
About Commercial Bank 
 
Commercial Bank has total assets of QAR 114 billion as at 31 March 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 34 full service branches and 154 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  3.5 billion as at 31 March 2014, has 62 branches in Oman and 1 branch
each in Egypt, Abu Dhabi and Dubai. UAB is headquartered in Sharjah, with
total assets of AED 23.6 billion as at 31 March 2014, and operates 26 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. Additionally, 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. 
 
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. 
 
www.cbq.qa 
 
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 (as of 31
March 2014). 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 March 2014, ABank had total assets of TL 10.9 billion, total loans stood
at TL 7.1 billion, customer deposits of TL 5.1 billion and shareholders'
equity of TL 810 million. 
 
http://wwweng.abank.com.tr 
 
This information is provided by RNS
The company news service from the London Stock Exchange