CBFS, the stock broking arm of Commercial Bank, has ranked third in Qatar’s brokerage businesses, accounting for 16.07 percent of trade turnover (QR25.06bn) on the Qatar Stock Exchange for 2018 – an increase of 58.71 percent compared to 2017 thanks to a 36.18 percent expansion in transactions to 295,114.
With recording 29.38 percent of total traded value (QR45.82bn) QNB’s broking arm QNBFS emerged as the topper. The Group Securities ranked second in brokerage businesses, accounting for 20.42 percent of trade turnover (QR31.85bn).
The figures were published by Qatar Stock Exchange’s Brokers Trading Activity Report for the month of December 2018. It also demonstrates CBFS’s its increasing importance within the brokerage sector, as it is now in third place, compared to fourth place last year.
Parvez Khan, EGM, Treasury and Investment, 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 Qatar Financial Markets Authority, we believe we are well-poised for such growth.”
