CBFS ranked 3rd in brokerage business at QSE
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.”