Successful USD 750 million issuance

For immediate release

Commercial Bank: successful USD 750 million issuance four times oversubscribed

Doha, Qatar: Commercial Bank ("the Bank"), one of the leading full service banks in Qatar, recently announced the successful pricing and closing of an issuance of USD 750 million five-year senior unsecured Notes under the Bank and its subsidiary, CBQ Finance Limited's USD 5 billion European Medium Term Note ("EMTN") Programme (the "Programme") which the Bank established. The issue was arranged and offered through a syndicate of Joint Lead Managers comprising BofA Merrill Lynch, HSBC and Morgan Stanley and attracted substantial global interest with orders in excess of USD 3.2 billion.

To support the issue, representatives from Commercial Bank embarked on a roadshow with the Joint Lead Managers to meet investors in London, Singapore, Hong Kong and the UAE (Abu Dhabi and Dubai). During the roadshow, they visited financial institutions, pension funds, asset managers and supranational bodies, and held one-to-one and group meetings in the countries visited. Investors from the global community participated in this issue, with the majority of investors from the Middle East (38%) followed by Europe (24%), Asia (22%) and the UK (16%). Half of the participants were new investors to Commercial Bank, including some of the world's leading fixed income investors, with strong demand from Qatari institutions.

The Notes were issued at a spread of 117 basis points over mid-swaps and will carry a coupon of 2.875% per annum. The spread was the tightest achieved by a Qatari five year US Dollar issuance since 2007, demonstrating the strong investor appetite for the Notes. The net proceeds of the issue will be used for general funding purposes to support the strategic growth plans of the Bank.

Commenting on the announcement, Commercial Bank's Chief Executive Officer, Mr. Abdulla Saleh Al Raisi, said, "We are delighted by the overwhelming response our issuance under the EMTN Programme received from global fixed income investors; the offer was considerably oversubscribed with over USD 3.2 billion placed in orders."

He added, "The GCC region is witnessing robust deal flows due to a combination of strong market demand and attractive pricing levels. The successful issuance is a clear indication of the continuing confidence of the fixed income community in the strength and economic stability of Qatar, and is testament to Commercial Bank's strategy, financial strength and prudent management."

Commercial Bank was the first Qatari entity to establish an EMTN Programme with a listing on the London Stock Exchange, and the first Qatari bank to issue a bond in the international capital markets. The Notes are listed on the Irish Stock Exchange and are rated A1 from Moody's and A- from Standard and Poor's.

**Ends**

For more information, please contact:

Qatari media

Mona AbdallahHead of Corporate CommunicationsCommercial BankTel: +974 4449 0169Email: [email protected]

Notes to Editors

About Commercial Bank

Commercial Bank has total assets of QAR 114 billion as at 31 March 2014. 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 34 full service branches and 154 ATMs.

Profitable every year since incorporation in 1974, 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 3.5 billion as at 31 March 2014, has 62 branches in Oman and 1 branch each in Egypt, Abu Dhabi and Dubai. UAB is headquartered in Sharjah, with total assets of AED 23.6 billion as at 31 March 2014, and operates 26 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 March 2014). 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 March 2014, ABank had total assets of TL 10.9 billion, total loans stood at TL 7.1 billion, customer deposits of TL 5.1 billion and shareholders' equity of TL 810 million.

http://wwweng.abank.com.tr