Market manipulation is blatant but developed economies are likewise rigged
Commercial Bank awarded The Best Transaction Bank in Qatar & The Best Cash Management Bank in Qatar for 2018
Dubai, November 29th 2018- Commercial Bank was received the award for Best Transaction Bank and Best Cash Management Bank at The Asian Banker MEA Risk and Transaction Awards 2018. The award ceremony was held in conjunction with the International Finance Dialogue, at Conrad, Dubai.
- Commercial Bank displayed improvement of transaction banking and cash management business amid a high regulatory environment
- The Bank stepped up regionalisation efforts in Gulf Cooperation Council (GCC) countries
- The Bank launched innovative cash management products to stay ahead of competition
The MEA Risk 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.
Commercial Bank displayed improvement of transaction banking and cash management business amid a high regulatory environment
In 2017, revenue of transaction banking and cash management business grew by 7% and 10% respectively. Amid high regulatory environment, Commercial Bank management to improve revenues by focusing on providing cash products and solutions which improved customers’ cash flows and returns on the Bank’s funds through pooling and tiered rate products . This helped it garner number of cash management mandates and low cost deposit, effectively translating into higher income in a rising interest rate scenario.
The Bank stepped up regionalisation efforts in Gulf Cooperation Council (GCC) countries
The Bank has a footprint in other GCC countries through strategic partnership by way of shareholdings, in the National Bank of Oman (NBO) in Oman and United Arab Bank (UAB) in the UAE. It focused on greater coordination between transaction banking teams in these countries through its counter which was helpful in conducting structured transaction and ironing out any operational matters.
The Bank launched innovative cash management products to stay ahead of competition
Commercial Bank made several digital breakthroughs in cash management in 2017. It launched the remote cheque deposit solution which allowed the Bank to process and credit customers based on a cheque image. This solution was also integrated with a cheque clearing system for customers to view the real time status of cheque payment. In order to reduce the transaction time for customers, Commercial Bank also launched Tap and Pay cards which served to improve customer experience.
At the awards ceremony, Emirates NBD was named the Best Cash Management and Transaction Bank in UAE. Other winning institutions include Egypt’s National Bank of Egypt, South Africa’s ABSA Bank, Qatar’s Commercial Bank, Barclays Bank Mauritius among others.
About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The company is headquartered in Singapore, with offices in Manila, Malaysia, 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.
For all Business Achievement Awards 2018 photos, please visit
https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10156342028 179804
For more information please contact:
Mr. Foo Boon Ping
Managing Editor
Tel: (+65) 6236 6526
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