CBQ convenes AGM and elects new Board

For immediate release

Commercial Bank convenes AGM and elects new Board

Sheikh Abdullah bin Ali bin Jabor Al Thani elected Chairman

Doha, Qatar: Commercial Bank, one of the leading full service banks in Qatar, has announced its Board of Directors for the next three years following the Bank's AGM earlier this week.

At the board meeting immediately following the Bank's AGM, Sheikh Abdullah bin Ali bin Jabor Al Thani was elected Chairman of the Board of Directors of Commercial Bank, and Mr Hussein Alfardan was elected Vice-Chairman and Managing Director.

Commercial Bank's elected Board of Directors for the next three years are:

Sh. Abdullah Bin Ali Bin Jabor Al Thani - Chairman

Mr. Hussain Ibrahim Al Fardan - Vice Chairman and Managing Director

Mr. Jassim Al Mosallam - Director

Mr. Abdullah Al Mannai - Director

HE Mr. Abdul Rahman Bin Hamad Al Attiyah - Director

Sh. Jabor Bin Ali Bin Jabor Al Thani - Director

Mr. Omar Hussain Al Fardan - Director

Mr. Ali Mohd Ghanim Al Mannai - Director (Representative of Qatar Insurance Company)

Mr. Mohd Ismail Mandani Al Emadi - Director (Representative of M/S Savings Development Company LLC)

Commenting on his election as Chairman, Sheikh Abdullah bin Ali bin Jabor Al Thani said: "I am delighted to be elected as Chairman of Commercial Bank and it is an honour to continue the work of H.E. Abdullah Bin Khalifa Al Attiyah. Commercial Bank will remain a strong supporter of the National Vision through financing Qatar's economic development, whilst generating long-term, stable growth for our shareholders."

Thanking the outgoing Board members, Commercial Bank Vice-Chairman and Managing Director, Mr Hussain Ibrahim Alfardan said: "We must pay tribute to H.E. Abdullah Bin Khalifa Al Attiyah for his outstanding commitment towards Commercial Bank during his time as Chairman. We regretfully accept his decision not to run again for Chairman due to personal reasons, and thank him for his valuable support towards achieving the Bank's strategic goals and objectives." He added, "On behalf of Commercial Bank, I would also like to thank Sheikh Ahmed bin Nasser bin Faleh Al Thani and Mr Khalifa Abdullah Al Subaey for their contribution to the Bank."

Commercial Bank Group CEO Andrew Stevens said: "Commercial Bank shareholders value continuity, as the re-election of 6 Directors evidences. The appointment of Sheikh Abdullah bin Ali bin Jabor Al Thani as Chairman is a rare and distinguished accomplishment, assuming the role first held by his father Sheikh Ali bin Jabor Al Thani, the founding Chairman 40 years ago. The new Directors elected to the Board bring many years' of experience in many relevant fields of industry, all of which will combine positively and successfully to the benefit of the Bank as a whole, and I welcome and congratulate all of them."

Commenting on this occasion, Commercial Bank CEO, Mr Abdulla Saleh Al Raisi said: "On behalf of all at Commercial Bank, I would like to congratulate the new members of the Board on winning the elections wishing them every success in fulfilling their duties with the Bank. We welcome Sheikh Abdullah bin Ali bin Jabor Al Thani as the Bank's new Chairman and look forward to the continued success of Commercial Bank under his leadership."

Commercial Bank's shareholders approved all resolutions at the AGM and EGM including a recommendation by the board of directors to increase the Bank's capital by 20% from QAR 2,474,463,720 to QAR 2,969,356,460, by issuing bonus shares to existing shareholders on the basis of one new share for every five shares held. Shareholders also approved a cash dividend of 20% of the share's nominal value for 2013, equivalent to QAR 2 for each share held.

**Ends**

For more information, please contact:

Qatari media

Mona Abdallah

Head of Corporate Communications

Commercial Bank

Tel: +974 4449 0169

Email: [email protected]

Notes to Editors

About Commercial Bank

Commercial Bank has total assets of QAR 113 billion as at 31 December 2013. As a full service commercial bank, the Bank offers a full range of corporate, retail and investment banking services as well as owning and operating exclusive Diners Club franchises in Qatar and Oman. The Bank's countrywide network includes 33 full service branches and 154 ATMs.

Profitable every year since incorporation in 1975, continual investment in technology and human capital, together with a strong capital base, provides a solid foundation for continued growth. A successful diversification strategy has expanded Commercial Bank's GCC footprint through strategic partnerships with associated banks, the 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 OMR 2.9 billion as at 31 December 2013, has 64 branches in Oman and one branch each in Egypt and in Abu Dhabi. UAB is headquartered in Sharjah, with total assets of AED 21.5 billion as at 31December 2013, and operates 25 branches across the emirates in the UAE. Building on the successful execution of the Bank's expansion strategy to date, Commercial Bank completed the acquisition of a majority stake in Alternatifbank in Turkey in July 2013.

Commercial Bank enjoys strong credit ratings of (A) from Fitch, (A1) from Moody's and (A-) from 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 bonds on the London Stock Exchange. Additionally, Commercial Bank's Swiss Franc bond issuance in December 2010, listed on the SIX Swiss Exchange, was the first public bond issuance by a Qatari bank in Switzerland.

The Bank is dedicated to supporting Qatar's community and social infrastructure through Corporate Social Responsibility programmes and sponsorship of various events. Title sponsorship of the Commercial Bank Qatar Masters and the Grand Prix of Qatar Moto GP reflects the Bank's promotion of excellence in sports and its keen interest in enhancing Qatar's international sporting reputation. To reinforce Qatar's flourishing cultural environment, Commercial Bank is the strategic partner of the Katara Cultural Village. This collaboration symbolises the Bank's commitment to supporting cultural activities in Qatar and making the country a regional arts and cultural hub.

www.cbq.qa

About Alternatifbank (ABank)

ABank was established in 1991 and has been listed on the Istanbul Stock Exchange since 1995. Commercial Bank became the majority shareholder in ABank in 2013 holding a 74.24% stake, following the acquisition of ABank shares of 70.84% from the Anadolu Group and 3.40% through a public tender offer. Anadolu Group remains a significant shareholder retaining 25% of shares in ABank.

ABank is a mid-size Turkish bank that predominately serves medium-sized companies through a country-wide network of 73 branches in 27 cities (as of 31 December 2013). ABank provides commercial/corporate banking services and products, with a special focus on the growing segment of Small and Medium-Sized Enterprises. The Bank's main product ranges cover trade finance instruments, working capital finance, cash management, and portfolio management. The Bank has also recently made a strategic decision to re-enter Retail Banking, targeting the "mass affluent segment" in terms of customer profile with tailor made products.

At 31 December 2013, ABank had total assets of TL10.9 billion, total loans stood at TL6.7 billion, customer deposits of TL 4.7 billion and shareholders' equity of TL574 million.

http://wwweng.abank.com.tr