Commercial bank acquires additional stake in Turkey's alternatifbank

The Commercial Bank of Qatar announced Wednesday that it has acquired an additional 3.40% shareholding in the Turkish "Alternatifbank" from the public tender offer that concluded on 27 September 2013. The acquisition takes the Commercial Bank's majority share in Alternatifbank A.S. up to 74.24%. Anadolu Endustri Holding A.S. holds a shareholding of 25.00% and 0.76% remains in the public domain. The Commercial Bank of Qatar was established in 1975 as Qatar’s first private sector bank. It operates in retail and wholesale banking and makes strategic investments through its associates and subsidiaries. The Commercial Bank expanded its service offerings and geographical footprint by joining forces and building strategic partnerships. It has a 34.89% shareholding in National Bank of Oman, the second largest bank in Oman, and created strategic alliance with United Arab Bank, which is based in Sharjah and operates 18 branches in the United Arab Emirates and offers retail, corporate and Islamic banking services.