Expanding on my recent
post on Doha Bank, I would like to compare this bank to Commercial
Bank of Qatar.
The bank's financial
performance is just as convincing as Doha Bank's figures:
Doha Bank's return on
equity is higher, due to higher leverage.
Commercial Bank of Qatar
is organized, by customer type and location, in five business units:
Corporate
Banking
This business unit offers
financial services (treasury, investment banking, corporate finance
and advisory) to domestic and international companies who invest,
trade, and execute projects in Qatar. In cooperation with Qatar
Development Bank, it keeps a special focus on small and medium
enterprises.(“Al Dhameen Loan Assurance Program”)
In addition, a
partnership agreement with Korea's HANA Bank promotes the growing
trade and investment flows between Qatar and Korea.
Apart from offering core
banking products and services, Commercial Bank of Qatar partners with
MEEZA, a Qatar Foundation joint venture, to provide IT services and
solutions to business customers. For example, the services cover
cloud technology as well as HR and payroll solutions. This is
somewhat surprising, as the bank has itself outsourced its IT and
back office activities to Tata Consultancy Services.
Retail
Banking
Commercial Bank of
Qatar's retail division controls 27 branches and 153 ATMs in Qatar
and emphasizes the importance of its mobile and Internet banking
offerings.
Wealthy people (“high
net worth customers” in banking language) are well served at
Commercial Bank of Qatar: The “Limited Edition Cards Rewards
Program” offers “a range of prestigious and
highly exclusive gifts from some of the world's most luxurious brands
– from limited edition watches to the latest must-have bags,
stunning jewelery and even yachts and cars”. Obviously, this
program seems attractive, compared to client loyalty programs in
France where you have to purchase for years to get rewarded by a
coffee machine....
Through its insurance
joint venture, Massoun Insurance Services, Commercial Bank of Qatar
completes its retail offering.
Islamic
Banking
Following
Qatar's decision to separate Islamic banking and commercial banking,
this business line has been discontinued in 2012.
Investment
Banking
The business line
Commercialbank Capital (ComCap) provides advisory services for
corporate activities such as M&A, joint venture, restructuring,
and public and private fund raising in Qatar.
Brokerage
services
Brokerage services are
provided by the subsidiary Commercialbank Investment Services (CBIS).
Resources:
- Commercial Bank of Qatar – Annual Report 2011
