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Opening of the Erbil Branch


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Sorry for the repost, but I thought this was an interesting article to bring up again...

Opening of the Erbil Branch

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08/9/2011

Capital Bank announced its plan to open the National Bank of Iraq’s (NBRIQ) 8th branch during the visit of His Excellency Bassem Khalil Al-Salem, Chairman of Capital Bank, to Iraq. During the visit, Al-Salem inspected the location of the branch that is scheduled to open during the first half of 2012 in Sulaimaniyah.

Capital Bank’s positive performance during 2011, which includes an 82% growth in deposits and a 33% growth in credit facilities, was behind the decision to expand its branch network in Iraq.

“We are in the process of implementing an expansion strategy in all Iraqi provinces that stems from our belief in the great economic opportunities that are on offer in Iraq. This is why we decided to open an 8th National Bank of Iraq branch,” commented Al-Salem.

Al-Salem added that the Sulaimaniyah Branch opening confirms the Bank’s commitment to providing premium banking services to large corporations, SMEs and individuals in an innovative manner.

Al-Salem also commented on Capital Bank’s relationship with NBIRQ, through which it facilitates services offered to businessmen and merchants in Jordan to support the increase of exports to Iraq.

Capital Bank owns a controlling 72% share in the NBIRQ which has a paid up capital of IQD 100 million (USD 85 million). Capital Bank is the only Jordanian bank in Iraq offering superior services that facilitate and fund trade and banking services between clients in Jordan and Iraq.

http://www.nbirq.com/node/9

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