User:BG$76$/sandbox/Commercial Bank International
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Commercial Bank International
Commercial Bank International (‘CBI’) (Arabic: البنك التجاري الدولي) is a well-established corporate and retail bank operating in the United Arab Emirates. Headquartered in Dubai and listed on the Abu Dhabi Securities Exchange (ADX:CBI), CBI operates with a retail network of 27 branches across the UAE. CBI’s lines of business include a range of retail banking, wholesale and business banking, treasury and investments, and Islamic banking. CBI’s head office is located in Dubai Festival City.
Ownership
[edit]CBI has a strategic partnership with QNB Group (QNB), the second largest bank in Africa and the Middle East in terms of assets. QNB Group holds a 40% stake in CBI[1].
History
[edit]CBI was incorporated in the UAE in 1991 and registered in the Emirate of Ras Al Khaimah. The bank’s shares were listed on the Abu Dhabi Securities Exchange (ADX) in 2002.
In 2015, CEO Mark Robinson joined the bank from ANZ Banking Group where he was CEO for Europe, Middle East, and America. He implemented a number of business reforms including strengthening the bank’s balance sheet through asset rationalisation, hiring a new management team and investing in transactional banking and technology-driven delivery channels.
As part of its expansion plan, CBI is focused on further developing its retail banking, SME finance and Islamic banking divisions.
Credit Rating
[edit]In April 2016, CBI received its first rating from a major credit agency, Fitch Ratings. CBI was assigned the investment grade category, with a long-term issuer default rating of A-. The rating made CBI one of 10 banks in the UAE that have a rating above BBB+.
CBI received an additional rating upgrade, from 'BB' to 'A-', from Capital Intelligence Ratings (CI) in September 2016, evidence that the bank’s growth strategy is on track.
Islamic Banking
[edit]In July 2015, CBI launched its Islamic Banking window, Al Islami, in compliance with Shari‘a rules and principles.
Awards
[edit]CBI was recognised as "The Fastest Growing Bank" and "The Most Improved Bank" by the Banker Middle East in 2013.
Board of Directors
[edit]| Name | Title |
|---|---|
| Mohamed Sultan AlQadi | Chairman |
| Ali AlKuwari | Vice Chairman |
| Adel Abdel Aziz AlKhashabi | Member |
| Ahmad Majid Lootah | Member |
| Ali Rashid Muhannadi | Member |
| Fareeda Abu Elfath | Member |
| Mohamed Omar Bin Haider | Member |
| Obaid Mohamed Ahmad AlSalami | Member |
| Sh. Abdulla Bin Humaid AlQasimi | Member |
References
[edit]- ^ "QNB Raise Stake in CBI to 40%". Gulf News. Gulf News. Retrieved 30 August 2012.
External links
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