Qatar’s leading financial entity, Commercial Bank (CB) has secured the “Best Bank in Qatar 2022” award by Global Finance.
According to the statement, “This year’s evaluation of banks was “exceptional” in Global Finance’s 29-year history, given the unprecedented economic conditions wrought by the global pandemic.”
Mr. Joseph D Giarraputo, publisher and editorial director of Global Finance said that, “Following on the enormous difficulties wrought by the pandemic, the changes demand increased attention to global commercial relationships. Our awards support decision-makers in selecting the best financial partners.”
All selections were made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world. In selecting these top banks, Global Finance considered factors that ranged from the quantitative objective to the informed subjective.
Joseph Abraham Group CEO Commercial Bank
“The pandemic presented both a challenge and an opportunity to demonstrate resilience and provide our clients with world-class banking services, particularly in the digital field. The investment we have made in our business under our five-year strategic plan meant that Commercial Bank was able to swiftly adapt to the new operating environment and well placed to capture the fundamental shift in customer behavior towards digital that was accelerated by COVID-19. I would like to thank our clients for their continued loyalty and patronage to Commercial Bank, and our staff for their dedication and innovation in this challenging year, and our Board of Directors for their support to the bank’s investment in technology.”
The objective criteria considered included growth in assets, profitability, geographic reach, strategic relationships, new business development, and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants, and others involved in the industry, as per the reports.
