Bank of Sharjah celebrates cooperation agreement with Commerzbank

Held at the Godolphin Ballroom of the Emirates Towers Hotel, the occasion was hosted by Mr. Ahmed Abdalla Al Noman, Chairman of the Board at Bank of Sharjah, in the presence of an important Commerzbank delegation headed by Mr. Michael Mandel, Chairman of the Supervisory Board at Commerzbank International SA.

In light of the launch, Bank of Sharjah initiated dedicated, state-of-the-art premises in the Control Tower at Motor City Dubai, a building designed by the dynamic, award-winning architect, Dame Zaha Hadid.

Signed by Mr. Varouj Nerguizian, Executive Board Member and General Manager, Bank of Sharjah, and by Mr. Falk Fischer, CEO of Commerzbank International S.A. - Luxembourg, the agreement stipulates that Bank of Sharjah clients will have access to Commerzbank's extensive experience, range of products, and investment solutions. The PBWM division at Bank of Sharjah will be supported by Commerzbank through their Luxembourg subsidiary which specializes in managing wealth, precious metals and in the structuring of assets.

Mr. Nerguizian commented that the establishment of the new division is in line with the bank's strategy to expand and diversify the reach and quality of its financial services in order to maintain its growth momentum.

Chairman Mr. Al Noman expressed the satisfaction of the board with this important initiative that marks a new qualitative jump in the financial services offered by the bank.

He further highlighted that the PBWM division will serve UAE clientele with direct access, through the Bank of Sharjah network, to one of the world's major financial institutions to benefit from their product portfolio, expertise, and technical know-how in the acquisition and preservation of wealth.