Commercial Bank recognised for making good returns and its strong corporate market penetration as it wins Best Cash Management and Transaction Bank in Qatar at The Asian Banker Qatar Awards 2019

• Demonstrated strong business performance in the cash management business reflected by its strong market penetration
• Introduced corporate mobile banking application to offer full corporate solutions online
• As a result, the bank achieved higher balances and an increase in fee income earned

Doha, 7 November 2019— Commercial Bank received the award for Best Cash Management and Transaction Bank in Qatar at The Asian Banker Qatar Awards 2019. The awards ceremony was held in conjunction with the presentation of key transaction finance research findings, made to the bank. 

Standing from left: Foo Boon Ping, Managing Editor, The Asian Banker; Raju Buddhiraju, Head of Wholesale Banking; Khalifa Nasser Al Rayes, Deputy Head of Wholesale Banking; Venkata Surya Prasad Indraganti; Head of Transaction Banking; Commercial Bank and Matt Dooley, nternational Resource Director, The Asian Banker

Demonstrated strong business performance in the cash management business reflected by its strong market penetration

Commercial Bank achieved an excellent business performance by increasing its market share of deposits to 15% in 2018 from 10% in 2016. The bank successfully implemented its Remote Cheque Deposit solution alongside other functional enhancements on its cash management platform, which increased volume growth for the business. The bank’s revenue from cash management business grew by 8% in the period under review. This growth was driven by strategic offerings on cash management products such as pooling with multi-tiered interest on account balances, and other digital channels including corporate internet banking and host-to-host (H2H).

Introduced corporate mobile banking application to offer full corporate solutions online

Commercial Bank was the first local bank in Qatar to offer a corporate mobile solution. The corporate mobile banking application facilitates multiple transaction approval in one slot: bulk payment, fund transfer services, utility bill presentment and payment, and credit card settlement functionality. In addition, the bank implemented the H2H solution with multiple variants of personalised services to meet the requirement of large public sector companies.

As a result, the bank achieved higher balances and an increase in fee income earned

The bank implemented a strategy to push migrate customers to digital channels, triggering a surge in payments routed through the bank. This move resulted in higher balances and an increase in fee income earned. The bank leveraged in high interest rate scenario and made good returns on the low-cost balances through its cash products implemented for the customers.

About the programme

The Middle East and Africa Risk Management and Transaction Awards Programme is designed to identify emerging best practices and outstanding achievements of the best-run risk management teams and evaluate their  achievements in cash management, payments, and trade finance business. Taking on an audit-based approach from 2018, the recipients of these awards were determined through a combination of surveys, interviews and field research by The Asian Banker’s research staff.

To know more about the programme, visit http://www.asianbankerawards.com/Middle-East-and-Africa-Awards/awards.php.

To view the Middle East and Africa photo gallery, visit https://business.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10157709300199804

About The Asian Banker 

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com.