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Iraqi Trade Bank announces results of profits and revenues last year

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Iraqi Trade Bank wins an international award
21:53 Monday 16 December 2019

The Palestinian People's Party mourns the militant Khamis Al-Hamad

The Iraqi Bank of Trade TBI won three awards for excellence from the famous "The Banker's" magazine, London. The awards won by the Bank of the Year Award in Iraq, in recognition of his efforts to provide excellent banking services and to develop his commercial offerings significantly. The bank also won the prize for the best Iraqi bank in the Middle East category in the twentieth annual session of the magazine's awards held in London, as well as the two best offers for trade finance and best banking services (in Iraq), respectively. The bank’s three awards are a reward for the extensive effort that the bank has made this year. The bank also expanded its presence in the Middle East this year, by opening its first branch in Saudi Arabia last April. The bank also plans to expand its representative office in Abu Dhabi and upgrade it to an asset management company in 2020, and the bank plans to open a representative office in China.

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Iraqi Trade Bank announces results of profits and revenues last year

2020-01-02 | 13:45
Iraqi Trade Bank announces results of profits and revenues last year

On Thursday, the head of the Iraqi Trade Bank, Faisal Al-Heims, announced profits and revenues last year.

Heimis said in a statement that Alsumaria News received a copy of it, "The revenues of the past year 2019 reached 836 billion dinars, equivalent to 697 million dollars."

He added that "the net profit amounted to 673 billion dinars, equivalent to 561 million dollars."اقتصاد/330346/المصرف-العراقي-للتجارة-يعلن-نتائج-أرباح-وإيرادات-ا

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Not bad for a third world economy and country, just makes you wonder what the total would have been if you added the 10-15 percent stolen from the bank.

Everyone has to get their fair share of the skimming....

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On 12/16/2019 at 11:54 PM, NoviceInvestor said:

With 1 IQD valued at 0.0008 .. ????


 Precisely 👌. More monkey business from the monkeys.

Edited by horsesoldier

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I must confess, I'm surprised they haven't already set their sites on New York.....   

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The Trade Bank of Iraq achieves 836 billion dinars in net profits for the year 2019

The banking system in Iraq consists of 77 government and private banks, and the number of government banks is 7, and according to the World Bank reports assessing the financial and banking situation in Iraq. Point out the developmental aspects of the main government banks and define the bases of their work and policies and convert them into banks that operate according to discreet banking contexts and policies, focusing on the need to introduce modern banking technologies and address the gap between them and foreign and Arab banks and banks sober.

Therefore, during the years (2016-2019), the Iraqi Bank for Trade has taken distinguished steps towards development at all levels. The exceptional efforts made by the bank here and confirm that the bank is moving in the right direction and achieving many achievements at the level of developing technical, banking and financial banking work and building international banking relations with banks. Global Correspondence and Risk Management and commitment to international compliance systems and standards and combating money laundering and terrorist financing in accordance with Law (39) for the year 2015 and FATF controls and provides new banking products that make it move from one stage to a new stage on i It is possible to reach global sobriety and leadership and the most prominent achievements of the bank during the above period can be determined by achieving annual revenues for 2019 estimated at 836 billion dinars, equivalent to 697 million US dollars, and net profits of 673 billion dinars, equivalent to 561 million US dollars, and during its past four years, the bank has completed the preparation of an administrative, banking and technical organizational structure New to the bank.

And the use of the cross-goal management system to assess job performance and efficiency of banking performance and obtain a quality certificate (2015-ISO9001) for the credit departments, letters of guarantee and remittances and to sign an agreement with Standard Garter and General Electric Company for joint financing of electric power projects for the Ministry of Electricity and cooperation with the Central Bank of Iraq to discount bonds issued For contractors by the Ministry of Finance in support of the national economy and the launch of new banking products for the purpose of attracting customer savings as products (deserving of my car ... etc) with the aim of providing services in accordance with modern technologies used in the bank and opening branches and m A new writer inside Iraq and in regional countries, moving to his new building and obtaining several awards and certificates of appreciation from Arab and international financial organizations and institutions.

Where he notes from the above accomplishments which are part of many accomplishments the bank has achieved under its leadership, cadres and employees indicating that the bank is moving towards developments in the areas of administrative, structural, banking and development and has ambitious plans for the year 2020 to reach banking sobriety and leadership and globalization, which is a great goal that we seek as experts, specialists and citizens in a way that enhances the role of the sector Iraqi banker in sustainable development.

* Financial and banking consultant

Number of views 90 Date added: 04/01/2020


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