Diners Club International and ABank Announce New Card-Issuing Agreement in Turkey
20 Maggio 2015 - 4:00PM
Business Wire
ABank, Turkish subsidiary of The Commercial
Bank of Qatar, to Issue Diners Club Cards
Diners Club International, Ltd., a business unit of Discover
Financial Services and part of the Discover Global Network, and
Alternatifbank (ABank), a subsidiary bank of The Commercial Bank of
Qatar Q.S.C. (Commercial Bank), the exclusive provider of Diners
Club cards in Qatar, today announced an agreement to form a new
Diners Club International issuing franchise in Turkey.
The agreement makes ABank the exclusive Diners Club card issuing
franchise in Turkey. The joint venture will offer cardmembers in
Turkey a compelling new credit card choice that features a host of
privileged offers and benefits, including access to more than 550
Diners Club airport lounges globally.
“Turkey is one of the major card markets in the EMEA region and
an increasingly important one for our cardmembers,” said Eduardo
Tobon, president of Diners Club International. “Working with ABank
– the Turkish subsidiary of Commercial Bank – will allow Diners
Club to grow its presence in Turkey within the business traveler
space, as well as meet the needs of a well-established customer
base and offer better support to multinational customers.”
A globally-recognized product, the Diners Club card is accepted
in more than 185 countries and territories, in millions of merchant
locations, and at more than 1 million ATMs and cash access
locations.
“ABank is delighted to become the exclusive issuing bank in
Turkey for Diners Club credit cards under this agreement,” said
Meriç Uluşahin, CEO, ABank. “Diners Club provides the strongest
card products in the world, and our Turkish customers are set to
benefit greatly from their availability. We are confident that we
will have the same success in Turkey with this affluent segment
product as Commercial Bank has in Qatar.”
About Alternatifbank (ABank)
ABank was established in 1991 and has been listed on the
Istanbul Stock Exchange since 1995. Commercial Bank became the
majority shareholder in ABank in 2013 holding a 74.24% stake,
following the acquisition of ABank shares of 70.84% from the
Anadolu Group and 3.40% through a public tender offer. Anadolu
Group remains a significant shareholder retaining 25% of shares in
ABank.
ABank is a mid-size Turkish bank that predominately serves
medium-sized companies through a country-wide network of 64
branches covering 85% of Turkey’s economic regions. ABank provides
commercial/corporate banking services along with Retail Banking,
targeting the "mass affluent segment" in terms of customer profile
with tailor made products.
About Commercial Bank
Commercial Bank has total assets of QAR 115.7 billion as at 31
December 2014. As a full service commercial bank, the Bank offers a
full range of corporate, retail and investment banking services as
well as owning and operating exclusive Diners Club franchises in
Qatar and Oman. The Bank’s countrywide network includes 29 full
service branches and 152 ATMs.
Profitable every year since incorporation in 1974, continual
investment in technology and human capital, together with a strong
capital base, provides a solid foundation for continued growth. A
successful diversification strategy has expanded Commercial Bank’s
GCC footprint through strategic partnerships with associated banks,
the National Bank of Oman (NBO) in Oman and United Arab Bank (UAB)
in the UAE. NBO, the second largest bank in Oman with total assets
of OMR 3 billion as at 31 December 2014, has 61 conventional
branches and 4 Islamic branches in Oman and 1 branch each in Egypt,
Abu Dhabi and Dubai. UAB is headquartered in Sharjah, with total
assets of AED 25.7 billion as at 31 December 2014, and operates 31
branches across the emirates in the UAE. Building on the successful
execution of the Bank’s expansion strategy to date, Commercial Bank
completed the acquisition of a majority stake in Alternatifbank in
Turkey in July 2013.
Commercial Bank enjoys strong credit ratings of (A) from Fitch,
(A1) from Moody’s and (A-) from Standard & Poor’s. The Bank is
listed on the Qatar Exchange and was the first Qatari bank to list
its Global Depository Receipts (GDRs) as well as bonds on the
London Stock Exchange. Commercial Bank’s Swiss Franc bond issuance
in December 2010, listed on the SIX Swiss Exchange, was the first
public bond issuance by a Qatari bank in Switzerland. Commercial
Bank’s latest bond issuance in June 2014 is listed on the Irish
stock exchange.
The Bank is dedicated to supporting Qatar’s community and social
infrastructure through Corporate Social Responsibility programmes
and sponsorship of various events. Title sponsorship of the
Commercial Bank Qatar Masters and the Grand Prix of Qatar Moto GP
reflects the Bank’s promotion of excellence in sports and its keen
interest in enhancing Qatar’s international sporting reputation. To
reinforce Qatar’s flourishing cultural environment, Commercial Bank
is the strategic partner of the Katara Cultural Village. This
collaboration symbolises the Bank’s commitment to supporting
cultural activities in Qatar and making the country a regional arts
and cultural hub.www.cbq.qa
About Diners Club International Ltd.
Diners Club International is owned by Discover Financial
Services (NYSE:DFS), a direct banking and payment services company
with one of the most recognized brands in U.S. financial services.
Established in 1950, Diners Club International became the first
multi-purpose charge card in the world, launching a financial
revolution in how consumers and companies pay for products and
services. Today, Diners Club is a globally-recognized brand serving
the payment needs of select and affluent consumers, offering access
to more than 550 airport lounges worldwide, and providing
corporations and small business owners with a complete array of
expense management solutions. With acceptance in more than 185
countries and territories, millions of merchant locations and
access to more than 1 million cash access locations and ATMs,
Diners Club, as a part of the Discover Global Network, is uniquely
qualified to serve its cardmembers all over the world. For more
information, visit www.dinersclub.com.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company issues the Discover card, America's cash rewards
pioneer, and offers private student loans, personal loans, home
loans, checking and savings accounts, certificates of deposit and
money market accounts through its direct banking business. It
operates the Discover Network, with millions of merchant and cash
access locations; PULSE, one of the nation's leading ATM/debit
networks; and Diners Club International, a global payments network
with acceptance in more than 185 countries and territories. For
more information, visit: www.discover.com/company.
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version on businesswire.com: http://www.businesswire.com/news/home/20150520005211/en/
ABankAsli
Dilber+90-212-3156705asli.dilber@abank.com.trorCommercial
BankIbrahim
Al-Emadi+974-4475-4748ibrahim.alemadi@cbq.qaorDiscover/Diners
Club InternationalAbbe
Kalina224-405-5175abbekalina@discover.com
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