Found in 1975, the Commercial Bank of Qatar offers a variety of personal, business, government, international, wealth management and investment services, and also plays a crucial part in Qatar’s economic development.
Taking the total assets, shareholders’ equity, and market capitalization into consideration, Commercial Bank is currently one of Qatar’s most important commercial banks in the country.
Having been around for nearly 40 years, Commercial Bank has profitable operations, earning it top credit ratings. The bank has also expanded immensely, thanks to its diverse revenue structure, solid asset quality, varied funding sources, and a strong capital foundation while offering services that are grounded in honesty and supported by strong corporate principles.
The size of Qatar’s economy and Commercial Bank’s own multifaceted strategy has contributed to the bank’s core businesses experiencing significant development.
International Finance caught up with Marlena Brzosko, Head of Wealth Management Product Development and Service, Commercial Bank of Qatar, who shared her insights about wealth management, financial planning, technological evolution in the financial sector, and much more.
Q) Why is wealth management an important consideration within the scope of personal financial planning?
A) Wealth management lies at the heart of financial planning. Our financial needs and goals change as we progress through various stages in our lifecycles. In order to achieve our financial objectives, it’s important to realize that there are no shortcuts in life. Every stage in life requires careful, considered financial planning, which leads to consistent and disciplined saving and investing habits.
Wealth management provides our clients with the right solutions that enable them to save, invest, and grow their wealth to meet their financial objectives as they progress through life. Our products allow clients to leverage the benefits of smart investments in capital markets and the power of compounding to meet their medium and long-term goals.
Q) Can you tell us about the recent growth and evolution of wealth management services at Commercial Bank?
A) Wealth management is a rapidly growing segment within Commercial Bank. We have experienced excellent traction with our customer base, and our clients are extremely eager to avail themselves of the diverse opportunities that our platform offers. Commercial Bank has seen an accelerating rate of growth in subscribers across all our product lines. Over the next few years, the wealth segment with play a pivotal role in our growth journey as a financial services provider. We have worked consistently towards upscaling our staff’s skillset on wealth products, empowering them to better guide their clients. With a full-fledged advisory team in place, we are ideally poised to sustain our strong growth, leverage customer relationship synergies, and create an exceptional service experience for our clients.
Q) Investment in wealth products has historically been associated with a select few experienced customers. Do you see a change in this trend?
A) The traditional understating that wealth management services are accessible only to a limited segment of customers is a thing of the past. Today, we are able to provide efficient and customized solutions across our entire customer base. With access to the latest technology platforms and an extensive range of products, we are able to develop and structure suitable investment portfolios for any customer in line with their savings, cashflows, and risk appetite. Whether you are an experienced investor looking to diversify your portfolio or someone just starting their investment journey, we have the right solutions available!
Q) What are the various offerings available to Commercial Bank customers for investing their money?
A) The wealth management platform at Commercial Bank offers a wide range of diversified investment opportunities, which can be broadly categorized into the following classes:
Bonds: We offer our customers a chance to invest in more than 1,000 local and international bonds with a range of risk profiles, returns, and maturities.
Mutual Funds: We work with leading global fund managers and provide a wide range of mutual funds which are available to our customers for a subscription. Our selection of funds includes lower-risk money market funds, as well as moderate and high-risk offerings with higher levels of equity exposure.
International Investment Plans: This unique offering is targeted towards investors who wish to save and invest on a monthly basis. With this structure, clients choose to invest in a fund of their choice with monthly contributions starting from just $300.
Share Trading Platforms: Our clients can access international (US, UK, Europe, and Hong Hong) share markets through our robust and user-friendly share trading platforms. One of the best features of our share trading app is free access to market insights, latest news, and trends.
Local Share Trading: Clients can gain access to the Qatar Exchange through our online trading services, where they can monitor live stock prices and trade with ease and convenience.
Q) Selecting the right investment products seems too complex. Is there a way to simplify this process?
A) I understand that the multitude of options and choices may seem daunting for someone just getting started on their investment journey. That is where we come in. When saving and investing through the Commercial Bank Wealth Management platform, our customers can rest assured that they are in safe hands. Our wealth advisory services aim to understand the client’s financial profile and goals, and evaluate them in line with their respective risk appetite. After careful consideration, our advisors are able to structure personalized investment portfolios that align with the client’s financial situation, risk profile, need for diversification, and return expectations. With Commercial Bank Wealth Management, managing your wealth is easy.
Q) With the rapid evolution of technology in the financial sector, how do you see this impacting your existing and potential customers?
A) Commercial Bank has always been at the forefront of technological empowerment and innovation in financial services, and wealth management is no exception. We have recently seen rapid development in AI-based robo-advisory solutions and personalization through learning-powered CRM systems. In alignment with these trends, we are focused on the development and deployment of state-of-the-art wealth management systems designed to support our frontline in better serving our customers. By leveraging AI tools, our team will be able to proactively and efficiently manage client portfolios. Our award-winning application allows customers to fund their investment accounts with convenience and monitor their investments with ease.