ABank rebranded Alternatif Bank; five-year goals are set

By Pratap John/Chief Business Reporter/IstanbulTurkey’s ABank, which became a 100% subsidiary of Qatar’s Commercial Bank in end-2016, has acquired a new brand identity and will continue its operations as Alternatif Bank.A gala dinner was held at the Four Seasons Bosphorus in Istanbul on March 6 as part of the corporate rebranding, which was attended among other dignitaries by Turkish Minister of Economy Nihat Zeybekçi, Commercial Bank managing director Omar Hussain Ibrahim Alfardan, Commercial Bank and Alternatif Bank directors and Group CEO Joseph Abraham.On March 6, the corporate rebranding was deployed at all the 53 Alternatif branches across Turkey. A new commercial created for the rebranding was showcased during the gala dinner, which highlights “Alternatif Bank’s role in transforming a small business into a large company.” Commenting on the new commercial film, Alternatif Bank CEO Kaan Gür said, “We deliberately selected the Turkish ballad of “Uzun ?nce bir Yolday?m” (I am on a long and narrow path) by A??k Veysel. Our goal is to become a player that adheres to and respects local values while offering world class services.“We wanted to present that we see business relationship as long journey and our role is to add value to our clients at all stages. We accompany our customers along their business journeys.That’s way we say, ‘Always advance together’.” In his address, Gür highlighted the fact that “the new trading name and brand image was more than just a physical change, but rather resembles full integration with the global vision and goals of Commercial Bank.” He said that they embarked on this journey with bigger ambitions in Turkey and in the world, adding, “As of today, Alternatif Bank is our brand name.” “The cornerstones of our transformation strategy are investment in human capital, customer satisfaction by seamless service, effective management of capital, compliance with corporate governance and creative innovation,” Gür added.Depicting the transformation as an indication of real change in common banking approaches, Gür said, “Our power roots from Commercial Bank’s insightful business culture, capital structure and experience, as well as its international reputation and vision; not to mention our trust in our expert staff.“As a renewed entity, we aim to work with industries and enterprises of all sizes that dream of growth, believe in a better future, and contribute to our country’s production.We will serve our customers by hearing, listening to, and understanding them well and by meeting their needs as quickly as possible.”Underscoring the fact that the banking spirit and business world are now more different, modern, technology-focused, and energetic than ever, Gür said, “We already set the goals we want to reach in five years. Alternatif Bank aims to transfer knowledge, competence and capital to the real sector and its production by providing comprehensive consultancy services. We will offer our ‘impeccable service approach’ and banking expertise through the 53 branches, around 1,000 of competent employees, and a streamlined technological infrastructure.” In his remarks, Abraham said, “We are confident that our investment in Turkey will continue to grow and add value to the economy of both countries.Our investment in Alternatif Bank amounting nearly $1bn marks the Qatari private sector’s highest investment in Turkey.“Alternatif Bank has the full support of Commercial Bank and we have made a lot of progress in the last year in terms of greater collaboration and integration. Our intention is to continue to align our businesses closer together and transfer our international know-how to take Alternatif Bank to a new phase of sustainable growth supported by strong corporate governance principles.” Abraham touched upon the strategic importance of the bank for Commercial Bank and said, “Qatar and Turkey are strategic partners, and the GCC economic blockade has brought our two friendly countries even closer together with diplomatic, cultural and economic relations growing stronger.This opportunity combined with Turkey’s location that bridges the East and West, and the strong growth potential of the Turkish economy, means that we believe Alternatif Bank has an exciting future ahead.”