CBFS ranked 3rd in bro­ker­age busi­ness at QSE

Gulf Times Business - - FRONT PAGE -

Com­mer­cial Bank’s stock broking arm, CBFS has ranked third in Qatar’s bro­ker­age busi­ness, ac­count­ing for 16.07% of trade turnover (QR25.06bn) on the Qatar Stock Ex­change for 2018.

This, CBFS said, rep­re­sented an in­crease of 58.71% com­pared to 2017, thanks to a 36.18% ex­pan­sion in trans­ac­tions to 295,114.

The fig­ures were pub­lished in the Qatar Stock Ex­change’s Bro­kers Trad­ing Ac­tiv­ity Re­port for De­cem­ber 2018.

It also demon­strates CBFS’ in­creas­ing im­por­tance within the bro­ker­age sec­tor, as it is now in the third place, com­pared to fourth place last year, ac­cord­ing to a state­ment.

Com­mer­cial Bank ex­ec­u­tive gen­eral man­ager (Trea­sury and In­vest­ment) Parvez Khan said, “News that we are now third in Qatar for bro­ker­age ser­vices is a fan­tas­tic way to start the year. We have some ex­cit­ing an­nounce­ments to make in the com­ing months in trans­ac­tion bank­ing, and we believe we are well-poised for fur­ther growth this year.

“With Qatar’s econ­omy grow­ing, along­side the sup­port pro­vided to bro­ker­age firms by the Qatar Stock Ex­change and the Qatar Fi­nan­cial Mar­kets Au­thor­ity, we believe we are well-poised for such growth.”

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