OutlineIntroductionFinancialsCompany objectives, mission & visionCompany servicesInternship positionsImportance of the internship programImprovement suggestionsConclusionReferencesIntroductionCommercial Bank of Qatar (QSC) was the first private sector bank in Qatar founded in 1975. The headquarters are at Commercial bank Plaza in Doha, Qatar. The bank ran bank accounts only before running other operations such as the foreign exchange. The bank started opening branches within the first five years. Since its inception, the plays an important role in the economic development of Qatar by providing a range of investment services to people, institutions, business organizations, and governments.
It primarily engages in Islamic and commercial banking services (Sun, 2011). The bank runs its operations at wholesale level, retail level, and through partnerships and subsidiaries. The levels cover business solutions, personal solutions, and investment services. The growth of the bank is steady and over this period, it has been winning various accolades. This includes the 2011 Citi Performance Excellence Award. To demonstrate its financial growth, the bank bought about seventy-one percent shares of Turkey’s the Alterntifbank As. HE Abdullah Bin Hamad Bin Khalifa Al Attiyah is current chairperson of the board of directors and Hussein Ibrahim Al Fardan as the managing director.
The bank has twenty-three branches across Qatar in addition to offering credit card business services in Egypt and Oman (Parker, 2011). The company’s total employee population stands at one thousand one hundred and fifteen as July 1 2013. It has a market capita of 4, 947.69 million US dollars with 1,237.23 million US dollars as outstanding shares. The dividends yield an annual average of eight point three percent. Ernst & Young are the financial auditors registered in 2012.
Financials AnnualQuarterly 2012-122011-122010-122013-032012-03Income StatementRevenue2,782—— 753680Net Interest Income1,866—— 454478Net Income2,0121,8841,635 506471Earnings Per Share1.631.541.45 0.410.38Shares Outstanding1,2371,2231,129 1,2371,237Figures are in millions except EPS. Currency is in QR. (Rosenbaum, 2009). Company objectives and MissionMissionCommercial bank of Qatar strives to speed up the growth and development of the financial private sector both locally and internationally for the benefit of humanity. This is in direct connection with overall national mission of Qatar to expand her needs. VisionCommercial bank of Qatar aims at becoming the primary financier for most Qatar’s economic development projects both in the private and public domains in various ways.
Among the ways, commercial bank seeks to provide a medium for interested people and organizations to access finance from partners for development purposes. The company also aims at offering direct financial support to specific sectors. This is in addition to promoting exports by financing organizations involved and offering management consultancy. The bank also finances real estate development sector as well as giving scholarships to open up the market. Strategic objectivesCommercial bank’s strategic objectives are in line with the company mission and vision. This covers direct and indirect financing that adds value to their services.
The company also undertakes large-scale investments in strategic sectors of the economy both locally and internationally. This is an effort by the bank to give financing solutions in line with their overall vision and mission statements. The company also offers financial advisory services to help enlighten clients on the best way to make investment. To make sure that Qatar opens up to international markets as her citizens gain new markets, the bank participates in export promotion and finances the export companies directly (Parker, 2011).
Through investments, the company develops a new knowledge-based industry within the larger banking industry. Commercial bank of Qatar offers their financing to the players in the real estate industry by issuing loans through the housing loans bodies and the Qatar development fund.