The Banker Names Commercial Bank the Best Performing Bank in Qatar

With a reported net profit of QAR 2,021 million in 2019 compared to QAR 1,674 million in 2018, a cost to income ratio of 28.3% reduced from 33.4%, and total assets of QAR 147.5 billion, up by 9.3, Commercial Bank registered significant growth in the local market and was awarded the Best Performing Bank in the country.

Joseph Abraham, Commercial Bank’s GCEO commented: “The excellent results for 2019, including the highest net profit achievement in the history of the Bank, demonstrates the strong execution of our five-year strategic plan. While 2020 has been challenging, we continue to support our customers and have delivered a sustainable set of earnings for the first half of the year.”

The Banker’s best performing banks selection and rankings incorporate a number of categories and indicators. Commercial Bank scored high across all indicators including leverage, growth, profitability, operational efficiency, asset quality, return on risk, liquidity and soundness.

This year, Commercial Bank’s excellence in managing COVID-19 related issues and its leadership in Digital Banking innovation has been recognized through several awards:

·         Euromoney’s “Excellence in Leadership in the Middle East” Award

·         The Banker Award for “Innovation in Digital Banking” in the Middle East

·         Finance Monthly magazine’s CFO Award

·         The Asian Banker’s “Best Digital Bank in Qatar”

·         7 awards for significant product and financial innovation and leadership from Global Finance Middle East 2020.

Ends.