Thank you very much, ladies and gentlemen. I am Zubair Chaiwala, the Head of Capital Management and Investor Relations, and I welcome you to The Commercial Bank's H1 2021 results call. With me, we have Joseph Abraham, the Group Chief Executive Officer, and Rehan Khan, the CFO. I'll now hand you over to Joseph Abraham for the call. Joseph, over to you, please. Thank you, Zubair. We also have our CEO from Turkey, Mr. Kaan Gur, also available, he will speak briefly. Thank you all for joining us today. First of all, we have had a very positive set of results. As you saw, the headline net profit is up 47%, that's of course flattered by an impairment that we took last year, which we haven't yet taken. At the fundamental level, you can see the net operating income is up by 9.9%, you can see the operating profit is up by 11.6%, and that's underpinned by good growth in our balance sheet. The loan growth has been very strong and positive, 15.6%. The growth in our low-cost deposits has been up by 23%, which is really the culmination of our transaction banking strategy. That's also helped improve our net interest margin from 2.4%-2.6%. Our NPL ratio has also reduced to 4.1% with good coverage. Overall, I'd say directionally we're heading in a positive direction, and also we are seeing more positive contribution from our subsidiary. Alternatif Bank has moved to profit for this quarter, our associates have started contributing. That overhang is starting to mitigate. In terms of the outlook, I would say, Qatar, the outlook is very positive and if you compare with last year this time, you take oil prices were $42 a barrel. Today, we're in the $70s. If you take gas prices, they were $1.8 per million BTU. Today, they're over $4. If you take the removal of the blockade, we have that. If you take the expansion of the North Field, that's a big piece of expenditure which will flow through over the next years. You see the World Cup is coming through and the uncertainty around it because the blockade is being removed. Therefore, you're seeing a positive sentiment all around, we continue to see a positive outlook for the banking sector and for ourselves, because we have a very good franchise across both retail and corporate spheres. As you can see, the banking sector grew by about 12% in the first half of the year, and we expect that trend to continue because of the continued expenditure. Also, the benefits of the removal of the blockade are not yet fully flowing through because that's been counteracted by the COVID effects. The hospitality and tourism sector will benefit greatly once the COVID effects are reduced or mitigated over the next 6-12 months. Qatar also benefits from that very low breakeven of $43 per barrel of oil equivalent, and therefore, at current prices, it gives quite a lot of room for the economy from a fiscal perspective. They were expected to be in a fiscal surplus next year and a deficit this year. I think given these prices, we never know where we'll come up, but it is a positive trend. Overall, we're quite positive. We also see Turkey, our bank is well-positioned from a conservative point of view. We see if the volatility continues from a Forex and interest rate perspective, we have positioned ourselves conservatively, and that's shown in our NPL ratio, which is at 2.8%, which is one of the lowest in the entire banking sector, where the sector average is closer to 4.8%-5%. Similarly, in Oman, we have a good franchise and we're working on continuing to improve that contribution which will happen. We have a new team there, a new CEO, a new CFO, new head of retail. That management team will, with our continued input, continue to progress. Some of you may around NBO. We can address that in the offer. Our view is very clear. It's either an associate or a subsidiary. We are not going halfway. We just want to increase our stake for the sake of increasing our stake. We are disciplined on the price. We didn't get the offer support, mainly from the local institutional shareholders. There was good support from the retail investors. That's fine. We will focus on other priorities. I would say finally, I have also asked Rehan to give one piece of clarification on our long-term share incentive scheme. The reason is because the figures are quite significant, and they are actually impacting how you look at cost income ratios or other ratios. The amounts are quite significant. This year, we paid out close to QAR 128 million to our staff. This is a significant amount, but it actually didn't cost the bank anything because we have a fully hedged share option scheme. To put that in context, that's a very significant incentive and performance linked, and that's part of our culture of driving towards performance orientation and linking remuneration more towards variable pay. I thought it's important that we give a clarification, because as the bank's performance improves and the share price improves, over time, this will continue to have a major effect on the income and expense line without actually being a true cash charge, because it's a fully hedged scheme as shares are actually held by a trust. I wanted to bring this clarification so that it's clear for everyone and answer any queries here. Overall, I would say a positive set of results with good underlying momentum, and we see that continuing to go in the same direction and momentum for the second half of the year. I'll hand over now to Rehan for any queries for a greater detailed explanation. Thanks, Joseph, on slide that you have in front of you, on slide seven, I will again just emphasize the difference between the normalized numbers and the reported numbers. As you can see in H1 of this year, at the reported level versus the H1 normalized level, there is a QAR 162 million difference between the two and similarly, the same amount of difference in the expenses as well. That QAR 162 million represents basically the share price movement between December and June, which basically went up from QAR 4.41 to QAR 5.27. Every time the share price moves up, that means under IFRS 2, we need to account for that as an additional staff cost. At the same time, the value of the derivative goes up, and that is recorded in the income side. As a share price can be volatile, it can move up and down. Conversely, if it went down, the income and the cost would go down by the same amount as well. That is why you see that the operating profit is exactly the same, both in the normalized numbers and in the reported numbers. That is something that, as Joseph also said, if the share price movement is significant between a period, then that number will also go up similarly. It is run by an independent trust, so the administration is totally outside of Commercial Bank, and there is no net cost to the bank of this scheme. It has proven to be very successful. It is a very good motivator for the staff and acts as a very good retention tool as well. On the normalized columns, you can see that is really showing what the underlying performance is. Firstly, at the quarter level, you can see income has grown by approximately 10% between this quarter and the last quarter, and 11% between this quarter and a year ago. This is driven mainly by increased net interest income. We are seeing an improvement in our NIM. It is at 2.7% for the quarter and for the half year it is at 2.6% versus 2.4% a year ago. We are managing our funding very carefully. Our low-cost funds are up 23% year-on-year. An example of the EMTN, which we did in the second quarter of $700 million, that was at 2% and it replaced an EMTN of $750 million at 3.25%. These are the kind of movements that we are seeing that is helping us manage our cost of funds and improve our net interest margins. Costs are fairly flat at a normalized level between Q1 and Q2, and I expect this kind of level going forward. What you can see is that the operating profit is up by 14% versus the previous quarter and also versus a year ago, and 11.7% at the half year level. This is a very strong improvement in our operating profit. It does mean that our cost to income ratio is down to 24% at consolidated level and 25.3% at the half year. At the Qatar domestic level, our cost income ratio for the half year is 21% and getting more and more in line with the rest of the market and indeed even the Islamic banks. On the provisioning front, similar level to last quarter, QAR 220 million. It is higher at half year versus half year last year. We did have very large recoveries in the first half of last year. We are continuing to work on recoveries at the moment as well. The timing is less predictable. Depends on when the settlements are actually achieved. But I do expect provisioning to continue at these kind of levels, and our cost of risk is now at net level, down to 84 basis points for the quarter and 86 basis points for the half year. Again, I would guide that this is the kind of level we should expect for the full year. On the NPL ratio, that is now down to 4.1% and our coverage ratio continues to improve. It is at 112.1%. As Joseph mentioned at Alternatif, they have also improved credit quality and the NPL ratio, and we will hear more from that from Conway in the next section. Going back up on the associates, you can see both NBO and UAB are profitable. In fact, they have increased their profits between Q1 and Q2. As you know, we have a budget for impairment. We have highlighted that in the past. We will be assessing that in the third and fourth quarter, and there is an expectation that an impairment will be taken of the kind of level that I guided around the QAR 400 million mark. Overall, QAR 724 million profit for the quarter is up 45% versus a year ago. We are seeing good growth in our balance sheet also. Our lending is up 15.6% year-on-year, and about 4% versus end of last year. Similarly, with deposits, they are up 6% year-on-year and about 9% versus end of last year. Finally, here you can see our capital continues to be strong. We are at 16.3% at Tier 1 level and at 18.4% at Total CAR level. This, again, is well in line with the rest of the market. I will just hand you over now to Kaan Gur, our CEO of Alternatif, for an update on Turkey and the bank there. After that, we will turn to Q&A. Over to you, Kaan. Thank you. Sorry for the connection. I think now you are hearing me well. Okay. Thank you, Mr. Rehan. Good afternoon. I hope that everyone is staying safe and healthy. I would like to start with a brief update on the Turkish macroeconomic indicators. Then, I will cover the latest data on the banking sector. Finally, I will summarize the highlights from Alternatif Bank's first half financial results. Regarding Turkish macroeconomics, in a nutshell, I can say that regarding GDP growth, we expect that the base effects will begin to recede, and growth momentum will be limited in second half of the year. Our full year GDP growth forecast is 6%, which is largely in line with the OECD and World Bank estimates. As Turkey back to normalize its economic activity levels, we believe in that the improvements on the current account deficit, which is very important for Turkey, is going to decline to 2.7% in 2021, which was around 5.2% in 2020. Thanks to higher tourism income, thanks to very strong improvement in export transaction and of course, lower oil import. Actually, this will allow and enable Turkey to pace up this recovery on the current account deficit through GDP ratio. On the other hand, I could say that on the CPI side, CPI may stay higher till early last quarter of this year due to supply side pressure. We expect CPI to finish the year around 16% and still we may see maybe 100%, 100 basis points rate cut from CBRT but we have to be careful about this expectation. On the second slide, let's look at the Turkish banking sector as an overview. I can say that banks in Turkey continue to be in squeezed margin environments with pressure on operating profitability. The sector has managed to offset this so far through lower provision expenses and tight control over OpEx. In contrast to 2020, the first half of this year, we have seen limited growth in loans and overall decrease in lending appetites by the banks due to continuing high interest environments. Banking sector's overall profitability, I can say that has been decreasing due to pressure on its interest margin as well as trading gains following the sharp increase in cost of funding. Total net profits, as you can see here, fell 16%, with sector return on average equity standing around 9% as May 2021. When you look into Alternatif Bank especially, the positively differentiate itself, especially on the NPL ratio, as Mr. Joseph mentioned that. Actually, we ended up the second quarter by 2.8%, and our cost of risk ratio is 0.7%. Those are important areas that we have been focusing on this asset quality issue since last three years, actually. The next slide, I will summarize our financial performances. As you can see here, actually, we maintain our cautious and very selective lending approach. We recorded around 3% year over date nominal increase. During this period, we also focused on hedging our balance sheets in order to minimize any impact our future depreciation in Turkish lira. On the deposit side, I have to emphasize that especially our continuous effort to diversify our demand deposit and the total deposit. We have recorded a 15% year to date increase in small deposits. Thanks to our improving digital channels. This is very important continuing efforts for the rest of 2021 and beyond, of course. On the asset quality, as you can see here, we improved our asset quality and in the same time, our NPL coverage is higher than 139%. On the profitability side, actually, I would like to emphasize that I was saying that starting from quarter two, bank will return to operate profitably. Now we have seen that, thanks to our efforts, now we recorded QAR 16.1 million net profits as a sole basis in Q2. Actually, we took very quick and comprehensive action, especially to address the issue of sharply increasing funding costs beginning at the end of the 2020. We quickly returned to a positive profitability trend. Despite extraordinary market and conditions in a challenging operating environment, actually, we are going to improve our bottom line profitability in 2021. In the same time, I'm looking forward to answering your questions during the Q&A session. I would like to emphasize that, again, net fee commissions generation and especially, the tight management of our expense base, we successfully maintained our OpEx below the budget, below the yearly inflation levels. Actually, this is all I would like to share with you. Thank you. Thank you for your time. Have a great day. Thank you. Thank you, Kaan Gur. We will now start with our Q&As. If you wish to ask a question, please use the raise hand feature. If you're using a laptop, you can click the participants icon and you will see the raise hand feature there. If you're using handheld devices, you will see the three dots on the right, below which is written more. If you click on that, you will see the raise hand feature. You can also send me a text and I will get back to you. If your name is announced, please unmute your device, state your name and organization, and then ask your question. Once your question is answered, please mute yourself to allow others to ask their question. We now have our first question. Rahul Bajaj, please go ahead, unmute and ask your question. Hi. Thank you gentlemen for your time. This is Rahul Bajaj from Citi. I have a few questions, actually quick ones. First is on margins. We've seen some good improvement in margins with cost of funding remaining low and kind of improvements in cost of funding over the last few quarters. Just wanted to understand to what extent can we expect this trend to continue in the future. Is current margin where you would probably end up being? Another kind of layer to the same question is around Turkey, because as your asset side repricing in Turkey picks up, I would assume that would be positive on margins as we go ahead. Just wanted to understand how we should think about the margin trajectory from here on. That's my first question. The second one is on NBO. Now that the transaction that you were trying to execute is not happening, just wanted to understand what's the plan B. Is it same as what you were kind of looking at prior to the announcement of the transaction earlier this year or you have something else in mind? What's the thinking around on that side? That's the second question. Third one is on the guidance. I think Rehan mentioned about cost of risk guidance, which is around 80, 85 basis points, which is, I think, higher than the previous guidance that you have quoted, 60 to 70, if I'm not mistaken. Just wanted to understand, is there any other item where guidance you think for the full year could change, compared to what you have earlier communicated? The final one on FOL. I saw this news around the fact that CBQ has recommended 100% FOL increase. Just wanted to understand the timeline here. How long does it take from here on? What are the steps involved, for the kind of FOL change to happen? Sorry, four questions, thanks for your time again. Thanks, Rahul. Let me take those questions in turn. Firstly, on net interest margins. Yes, as you can see, the movement has been positive and upwards. Certainly, if rates go up, then Turkey would benefit from that also. At the moment, our guidance is for continued upward movement. There are challenges, of course, with asset yields here in Qatar especially. We do overall expect NIMs to continue moving upwards, and that's certainly been our target, especially with the very careful management of cost of funding going forward. The second question you had was on NBO. I'll ask Joseph just to answer that one. Regarding NBO, frankly, the offer that we made was converted from associate to a subsidiary. The benefit to NBO would be that it would get the higher rating that the CBQ ownership would entail. Therefore, this would lower their cost of funds and have other benefits, also give them greater firepower for arranging bond issuances, et cetera. What I would say is that, now that it remains associate, it doesn't change the fundamental. There's a clear strategy in place in which we're heavily involved, at the board level. We remain the largest shareholder. Therefore, that will continue. The ancillary benefits that they would have got as a subsidiary, primarily around their rating and cost of funding and greater firepower for certain more complex capital market transactions, probably won't happen right now, I think that's just an aside. We will continue. There's really not anything different from what we currently have going on. We continue to work closely with NBO, the management team. We expect that to continue very much, and we are very positive on how NBO can progress from where it is today to the future. The third question you had was on cost of risk. Rahul, we gave a guidance of 70 to 80 basis points. In the last call, I think we said we expect it to be at the top end of that guidance, and that, I think, remains the case for the rest of the year. Of course, the QCB schemes are due for completion in September. We will see what happens post that. We expect that cost of risk trend that we have seen in the first half of the year to remain in the second half of the year. You also said, is there any other change in guidance? I certainly think loan growth, we gave 5% to 6% as our guidance. I think we'll be higher than that, probably 7% to 8% would be closer to where we will end up by the end of this year. Lastly, on foreign ownership limit. Yes, we did have in our board meeting yesterday an approval to call for an extraordinary general meeting. That is the next step that is required. Once that is done, we will then seek all the approvals to. Probably early Q4 is when we would expect to complete that. Hope that answers all your questions. Thank you. Thanks, Rehan. Thanks, Joseph. Pleasure. Let me remind you to use the raise hand feature to ask any questions. It would seem that there are no other questions. Rahul, your four questions obviously tick the boxes for everyone. As always, we are always available to take any questions or clarification later, Rehan and the team. Thank you again. Oh, sorry, there's one question coming through now. Rahul wants to ask- One more question, Rahul. Rahul, go ahead. Thank you. Sorry so much. Sorry for another one. This one is around impairment on associates. If my understanding was correct, you guided to QAR 400 million in impairment, split between third quarter and fourth quarter, or should we expect all of this to come in fourth quarter? What would be the timing of the QAR 400 million? We are beginning that work. Obviously, one of the considerations is the performance of the two associates. Certainly, that's been positive in the first half of the year. We were waiting to see how that transpires. Probably end of Q3, early Q4 is when we will have the discussions with the auditors and the conclusion of that. I'd expect the bulk of it to be in Q4. If we've completed the work, you may see something in Q3. Primarily Q4 is when we expect to make those final decisions based on our work with the auditors. Got it. Thanks, Rehan. We now have one more question from Chiradeep Ghosh. Chiro, please go ahead, unmute and ask your question. Thanks for the call. I think most of it has been answered. Just one quick one related to the fee income. Fee income was good in first half, second quarter perhaps a little low, but quarter-on-quarter perhaps is not a fair way to analyze this number. How do you think the fee income would pan out for the rest of the year and going forward? How are you seeing it? Hi, Chiro. You're quite right. one quarter doesn't really work as far as fee and other income goes. For the full year is much better to look at. We do have an expectation of growing our overall fee and other income by about 10% year-on-year. That's our target, and that remains the case for the full year. My voice broke a little bit. The income from the associate, did you give any guidance? How do you see for the rest of the year? Let me step back. Similar, I think to H1 is what we expect in H2. Slightly improving, but modest increase between H1 and H2. Overall, pretty similar. Okay. That's all from my side. Thanks, everyone. Thank you. Joseph, we have no further questions. Any closing remarks, please? Thank you very much for joining us today. We're always available to answer any queries or any questions. Please do feel free to reach out. Thank you again for your questions and your attendance today. Have a good day. Thank you. Thank you very much.