Qatar’s Commercial Bank remains committed to Turkey – CEO


DOHA (Reuters) – Qatar’s Commercial Bank <COMB.QA> remains committed to Turkey, where the bank has a presence, its chief executive Joseph Abraham, said on Wednesday.

Commercial Bank owns Alternatifbank in Turkey and said earlier this year it is deploying more capital and focussing more on Turkey to benefit from closer political ties.

Ankara has emerged as a strong ally as Qatar faces off against Saudi Arabia, United Arab Emirates, Bahrain and Egypt in a regional diplomatic and commercial rift.

Speaking about the outlook of the Qatar banking sector at a conference, he said: “We’ve sort of reached the trough of any sort of concerns or risks, therefore there is more upside [in Qatar] over the next 12 months.”

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