Ahlibank Qatar has revealed its plans to rebalance its financing and rationalise its branch network, as part of its restructuring efforts.
The move by Ahlibank, in which Qatar Foundation has 29% stake, is to boost its retail sector.
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Ahlibank retail banking deputy CEO, Andrew Mckechnie, said they have drawn up a three-year strategy, which will focus on developing the retail side including rationalising of branch network that includes closure and relocation.
The lender also plans to expand its branch network and add savings and investments products to portfolio.
As part of its plans, Ahlibank had launched a new Al Rabeh savings scheme, which provides customers a chance to save and win millions of Qatari riyals.
Mckechnie said the new Al Rabeh savings scheme is designed exclusively for customers in the Qatari market and also encourages people to save, a habit they wish to promote amongst the citizens of the state and the future generations of Qatar.
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By GlobalData"The Al Rabeh savings scheme has been designed with much better benefits and advantages than its predecessor MyHassad," McKechnie added.
