Commercial Bank of Qatar (P.S.Q.C.) (CBQ) commonly known as Commercial Bank, is a private sector bank operating in Qatar since 1975. The bank offers a range of products and services across retail, corporate banking, and wealth management divisions.[1]
Commercial Bank of Qatar was established in 1975 by Hussain Alfardan as the first private bank in Qatar.[2] Since its founding, the bank has expanded its operations and digital offerings, becoming one of the largest and most prominent financial institutions in Qatar.
Key Milestones
1975: The bank was founded as the first private sector bank in Qatar.
2000s: Expanded its presence both domestically and internationally, introducing new banking services.
2010s: Strengthened its position in the market through digital banking innovations and expansion into new markets.
2019: The bank introduced a series of strategic initiatives to enhance its services and improve customer experiences, including mobile and online banking solutions.
Services
Commercial Bank of Qatar provides a wide range of banking services, including:
Retail Banking
CBQ offers personal banking products such as savings accounts, current accounts, personal loans, credit cards, and insurance services to individual customers.
Corporate Banking
The bank provides corporate clients with services including working capital solutions, trade finance, business loans, treasury, and risk management.
Wealth Management
CBQ also offers wealth management services for high-net-worth individuals, including portfolio management, financial planning, and investment advisory.
International Banking
The bank has a strong international presence, providing services such as cross-border trade finance and global banking solutions.
Governance
The bank is governed by a Board of Directors, with key leadership provided by the CEO and senior management team. As of the latest data, the Chairman of the Board is Sheikh Abdullah bin Ali Al-Thani and the CEO is Stephen Moss. CBQ adheres to corporate governance standards and regulatory requirements established by the Qatar Central Bank.
Digital Banking
CBQ is a leader in digital banking in Qatar, offering innovative mobile and online banking platforms. The bank's digital services include account management, fund transfers, payments, and more, accessible through its mobile app and online banking system.
Key Digital Products
CBQ Mobile App: Allows customers to perform banking transactions on-the-go.
CBQ Online Banking: Provides customers with a secure and easy-to-use platform for managing their finances from a computer.
CBQ Digital Wallet: A mobile wallet solution for seamless payments and money transfers.
Financial Performance
Commercial Bank of Qatar has consistently shown strong financial performance, with a solid capital base, high profitability, and strong market position in Qatar's banking sector. The bank's annual financial reports are publicly available and detail key performance metrics such as net income, earnings growth, and return on equity.
Corporate Social Responsibility
CBQ is committed to corporate social responsibility (CSR) through various initiatives aimed at enhancing the welfare of Qatari society, promoting sustainability, and contributing to economic development. The bank supports a number of social, educational, and charitable projects within Qatar.
Awards and Recognition
Commercial Bank of Qatar has received multiple awards for excellence in banking services, corporate governance, and social responsibility. Some of the notable awards include:
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