Commercialbank to partner with London Metropolitan Business School

FOR IMMEDIATE RELEASE

18 August, 2010

Commercialbank signs strategic partnership with London Metropolitan Business School

Commercialbank of Qatar, the largest private sector bank in Qatar, has signed a strategic partnership with the London Metropolitan Business School (LMBS). The partnership sets down the roots of a new Doha-based Training Academy which will provide invaluable training and development opportunities to employees of the Bank. This strategic partnership, the first of its kind in Qatar, will cater for employees at all stages of their career path leading the way in developing talent who will play an active role in the Bank and the future of Qatar.

The signing was attended by Andy Stevens, GCEO Commercialbank; Professor Malcolm Gillies, Vice-Chancellor of the University; Mr Andy Inglis, Associate Director; Mr. Frank McKenna, Business Development Director and Abduljalil M. Borhani-Fard, Executive General Manager Corporate Banking from Commercialbank. Also in attendance were Mr. Mark Ellam, Director of Trade and Investments at the British Embassy and the first batch of management trainees from Commercialbank.

The London Metropolitan Business School, which is based in one of the world’s most thriving financial centres, is renowned for its excellence and brings to the table over a hundred years experience in financial related teaching. The partnership will strategically enhance the nationalisation drive of Commercialbank by ensuring that Qataris within the Bank are trained to lead the way in the banking sector in one of the world’s fastest growing economies.

The Training Academy, which will be supervised and developed by LMBS, will bring together professional development, Certificate, Diploma and eventually, Masters programmes, tailored to the needs of the Bank’s management trainees and executive leadership staff. This will start with basic banking training for fresh recruits through to a two year programme for middle management and culminating in a one year Executive Leadership Programme to nurture high flying Qataris for senior leadership roles within the Bank. Adding to the Academy’s training programmes will be a Summer School held at LMBS, the largest business school in the City of London.
Attending the signing, Malcolm Gillies, Vice-Chancellor of LMBS underscored the significance of the event: “This brings together the Bank’s 35 illustrious years of experience in financial services and the University’s 150 years experience in offering business, management and financial education.”

Continuing he commented on the importance of talent development:
“There is a voracious market for talent and we all have an obligation to extend the skills of our staff as far as possible. We are delighted to welcome the first cohort of students and look forward to a productive relationship ahead.”

Commercialbank’s GCEO, Andy Stevens outlined the Bank’s vision for the way ahead:
“We are delighted to forge this strategic partnership. At Commercialbank we believe in building the talent of tomorrow, an essential part of our corporate DNA. The partnership is the first stop on our strategic road map for the future. Commercialbank aims to differentiate ourselves and provide a real choice for young Qatari talent who wish to pursue careers in Banking. And in the bigger picture this, in-turn, highlights our commitment to the future prosperity of Qatar.”

-Ends-

For more information please contact:
Rania Khoury
Tel: +974 449 1114
Email: rania.khoury@cbq.com.qa

About Commercialbank
Commercialbank Qatar is the leading private sector commercial banks in Qatar with total assets of QR 55 billion as of 31 March 2010. As a full service commercial bank, the Bank offers a full range of corporate, retail, Islamic, and investment banking services as well as owning and operating exclusive Diners Club franchises in Qatar and Oman. The Bank’s countrywide network includes 29full service branches, including 8 Islamic banking branches and over 143 ATMs. In 2009 Commercialbank inaugurated its 22-storey head office building in Doha’s West Bay area and its completion represents the Bank’s enduring commitment to Qatar.

Profitable every year since incorporation in 1975, the Bank’s continual investment in technology and human capital, together with a strong capital base and underwriting capability, has continued to provide a solid foundation for continued growth.

A successful diversification strategy has expanded Commercialbank’s GCC footprint through strategic partnerships with its associated banks, 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 RO 1.9 billion as at 31 March 2010, has 63 branches in Oman, 5 branches in Egypt and 1 in Abu Dhabi. UAB is headquartered in Sharjah, with total assets of AED 6.3 billion as at 31 March 2010 and operates 10 branches in the UAE.

Commercialbank enjoys healthy credit ratings of (A) by Fitch, (A1) by Moody’s and (A-) by 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 its bonds on the London Stock Exchange.

The Bank is dedicated to supporting Qatar’s community and social infrastructure through various CSR programs and sponsorship of events such as the Commercialbank Qatar Masters Golf Tournament.
For more information please visit www.cbq.com.qa
About London Metropolitan Business School
London Met Business School, one of the largest business schools in the UK, has achieved excellence in teaching and research. LMBS offers students the chance to develop a depth of knowledge and relevant skills. Its relationships both with UK and international organisations provide opportunities for students to address real life business challenges.

For more information please visit http://www.londonmet.ac.uk

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