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- Acwa Power signs $3.5bn Saudi CCGT power plant contract
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- Vodafone Qatar set to empower startups at Web Summit 2025
- QNB Group recognised for excellence in commercial credit cards growth in Qatar
- Doha Bank announced as platinum level partner of Web Summit Qatar
- GWC wins 'Logistics Project of the Year' award
- QIC Group showcases future of insurance industry at Web Summit
31/01/2018 06:25 AST
Commercial Bank of Qatar is pushing to increase lending to state-run companies as the government presses ahead with infrastructure projects to counter the impact of the Saudi-led boycott against the country.
"We have historically been under weight in the public sector and this is something we are remedying very quickly," chief executive officer Joseph Abraham said in an interview with Bloomberg TV after Qatar's third-largest bank by assets posted a 20% increase in profit in 2017, helped by a jump in loans and advances.
Projects related to the 2022 soccer World Cup and efforts to become more self-sufficient to blunt the effect of the Saudi boycott have created opportunities for the bank, he said. Saudi Arabia, the UAE, Bahrain and Egypt cut ties and closed transport routes with the country in June.
The bank's loan book expanded 14% last year, compared with 8% for the entire sector, Abraham said.
Abraham said the bank was having "strong discussions" with Tabarak Investment to sell its stake in Abu Dhabi-listed United Arab Bank after extending talks for the sale for the second time on Monday.
If talks conclude successfully, the lender will deploy its capital in Qatar and Turkey, where "we see an opportunity to grow business into a significant contributor to profits over the next three years," he said.
Gulf Times
19/02/2025
Commercial Bank has participated in the 'Tawteen' initiative, a nationalisation programme led by the Ministry of Labour (MoL) aimed at empowering Qatari nationals in line with Qatar National Vision 2
Gulf Times
28/03/2018
Commercial Bank, Qatar's first private bank, has announced changes in the leadership roles that have responsibility for Commercial Bank's High Net Worth and VIP customers.
Bouchra Sebbata,
The Peninsula
07/02/2018
Commercial Bank's National Development Team will be participating at the Education City Career Fair from February 6 to 7, 2018 to recruit top Qatari nationals.
Commercial Bank's National De
The Peninsula
23/02/2025
Acwa Power Company has announced the signing of a power purchase agreement worth SAR13.4 billion ($3.5 billion) with Saudi Power Procurement Company (SPPC) for large-scale combined cycle gas turbine
Trade Arabia
23/02/2025
Vodafone Qatar has announced its participation in the upcoming Web Summit 2025, one of the world's premier technology conferences. The event will be held from February 23-26, 2025, at the DECC in Doh
The Peninsula
23/02/2025
QNB Group has been presented with an award by Mastercard for having the fastest growing commercial credit card portfolio in Qatar.
This accolade highlights QNB's prominent position in the fi
The Peninsula
23/02/2025
Doha Bank proudly announces its sponsorship as a Platinum Level Partner of the highly anticipated Web Summit Qatar 2025, set to take place from 23rd to 26thFebruary at the Doha Exhibition and Convent
The Peninsula
23/02/2025
Gulf Warehousing Company (GWC) - one of the leading logistics providers in the MENA region, has been honoured with the prestigious 'Logistics Project of the Year' award for its Al Wukair Logistics Pa
The Peninsula
Financial Information Co.
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