Alternatifbank CEO Steps Down This Friday

(MENAFN- Qatar News Agency) The Chief Executive Officer and General Manager of Alternatifbank (ABank) Hamit Aydogan will be stepping down from his position effective March 28, 2014, Commercial Bank of Qatar (CBQ) has announced, according to a Qatar Exchange notification Wednesday. The bank is expecting to announce his successor shortly. Executive Vice President and Head of Business Muzaffer Ozturk will be ABank's interim General Manager. CBQ acquired a majority stake (70.84%) in Turkey's ABank in March 2013 from Anadolu Endustri Holding (Anadolu) for twice the book value on June 30, 2012. ABank's book value as at December 31, 2012 was US $328 Million (TL 585 Million). CBQ announced its new Board of Directors for a term of three last Thursday after its annual general meetin