Bahrain I Egypt I Iran I Israel I Jordan I Kuwait I Lebanon I Morocco I Oman I Qatar I Saudi Arabia I United Arab Emirates I Lifetime Achievement
|BEST BANK: Commercial Bank of Qatar
BEST DEBT HOUSE: Goldman Sachs
The future of regional banking lies in cross-border mergers and Commercial Bank is one of the first financial institutions to take this step by buying a 34.9% stake in NBO and holding a management service contract. It is already starting to reap the rewards of this initiative. In the first quarter of this year NBO’s profits were up 83% after a year in which the bank had reported record profits.
This contributed to the performance of Commercial Bank itself, which achieved a net profit of QR750 million ($206 million) in 2005, up 117% on the previous year. Total assets increased from QR12.9