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Iraqi Trade Bank announces results of profits and revenues last year


yota691
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Monday, December 11
 
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Alsumaria News / Baghdad
announced the Commercial Bank of Iraq TBI, Monday, for obtaining facilities from the Foundation to support German exports. 

The Director General of the Iraqi Trade Bank TBI Faisal Al-Hims said in a statement received by Alsumaria News that "the bank was able to obtain credit facilities from Euler Hermez Foundation supporting German exports," noting that "these facilities will be able to public and private sector institutions to buy materials manufactured In the Federal Republic of Germany with the guarantees of the German Export support Corporation. "

 

 

 

 


"The Bank is keen to provide all that supports Iraq's foreign trade to the public and private sectors, and to provide services in a distinctive way," Heim said. "The bank's credibility, credibility and transparency are always positive and qualitative." 

The Iraqi Trade Bank is an Iraqi government bank established in July 2003 with a capital of $ 100 million and then increased to $ 1.5 billion to reach 2.750 trillion dinars, equivalent to 2.3 billion dollars.

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  • yota691 changed the title to The Iraqi Trade Bank is generating about 900 billion dinars
 
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Economy News _ Baghdad

 

The Iraqi Trade Bank announced on Wednesday revenues of about 900 billion dinars. 

 

The bank said in a statement received "The Economist News" a copy of it, "it has generated revenues of up to 900 billion Iraqi dinars for its activities in the fiscal year ended December 31 last." 

 

The Iraqi Trade Bank is an Iraqi government bank established in July 2003 with a capital of $ 100 million and then increased to $ 1.5 billion to reach 2.750 trillion dinars, equivalent to 2.3 billion dollars.

 

 

Views 20   Date Added 03/01/2018

 
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2018/01/04 (00:01 PM)   -   Number of readings: 32   -   Number (4103)
 
 
Saleh: "The 900 billion dinars achieved by the Iraqi Bank for Trade contribute to move the wheel of the economy
Saleh: "The 900 billion dinars achieved by the Iraqi Bank for Trade contribute to move the wheel of the economy



 Baghdad / Zahraa al-Jassim 
 

A financial adviser to the Prime Minister that the amount of "900 billion dinars, which the Iraqi Bank for Trade as profits for the year 2017, will provide the budget with the proceeds of conversion, and contribute to move the wheel of the national economy funding for development projects, which reduces unemployment rates, while calling for an economist to enter the private sector The bank's work, and pointed out that the mission of this bank after leading the process of modernization in the banking sector, is to contribute to the lending of investment projects and construction projects and real estate and factories.

The Iraqi Trade Bank announced in a statement received (the extent) a copy of the revenues of about 900 billion Iraqi dinars, for his activities in the fiscal year ended December 31 last. 
Financial Advisor to the slaves of the appearance of Mohammed Saleh said in a brief interview for "(range), that these profits will provide the state budget for the year 2018 with good conversion income, and will have an impact of raising the credit and investment capacity of the same bank, which contributes to move the wheel of the national economy funding and support development activity He added that these profits have enabled him to support important development projects, thus reducing unemployment rates in the country, on the other hand: On the other hand, the losses of the bank will be addressed through capital hedging, as the capital tool to address the losses so as not to be exposed Bank of financial hardship or what is called Thus, part of the annual profits are added as capital hedges to the bank itself.
The Iraqi Trade Bank is an Iraqi government bank established in July 2003 by a decision of the Coalition Authority, with a capital of $ 100 million, which was increased to $ 1.5 billion to become 2,750 trillion dinars, equivalent to 2.3 billion dollars.
On the other hand, the economic expert in the name of Antoine said in an interview with (to the extent), the banking business in other countries to secure more than 120 deposits, whether a current account or a saving, an issue carried out by any external bank, but we in Iraq are still 12 The Iraqi Bank of Trade has credited the introduction of mechanization and modernity banking work in Iraq, which is our only bank has the guarantees to open the funds directly, as it has an agreement with the bank, "JPMorgan" Amiri is one of the strongest banks in the world, here We are instead of bringing an intermediary bank from neighboring countries to the work of Financial appropriations commission go out of hand, the "NBA that" enjoy this feature and achieves the commission which makes it easier for the importer directly without opening credits to go abroad or to sign other contracts.
The Iraqi Trade Bank has a special field in the budget and funding from the Ministry of Finance, and therefore, these profits are due to the Iraqi budget, because its mission to preserve the wealth of Iraq, but also: When the imports are taken to the budget, these profits are added within, , On the other hand, this bank employs Iraqi workers in its branches spread throughout Iraq and this is also an investment contributes to reducing the unemployment rate, which is now leading the bank in the modernization process in the banking sector, including the introduction of mechanization and ATM in an easy way to open accounts with its external link Mai transfer amounts and receive deposits from outside Iraq ..
Antoine said: The achievement of profits, means to ensure the return of loans and benefits after the end of the term of the loan, where this bank can achieve such profits and this issue is fixed with official budgets, being linked to other banks of the Council of Ministers, and his role is lending private sector projects under certain conditions and guarantees With documented documents and profits from 8 to 10%, it lends for the purposes of construction projects, construction and construction of new factories, and this is an investment contribution, but in the internal bank system is not allowed to contribute directly to investment projects, yes he can lend these projects and contracting And entrepreneurial projects Rat and factories, where he had loaned the project Basmajh large amounts.
But it was decided when the Commercial Bank of Iraq, with the support of the Americans at the time, to transfer ownership to the private sector, but that has not happened so far, and that is a handicap, so we call for the introduction of private sector work of the Iraqi Bank for Trade provided that the sector Especially as he is suffering from some problems in the previous administrations because there are debts and loans given to some people without adequate guarantees, and there are bad debts in front of the bank, but in general, this bank constituted a major breakthrough for banking work in Iraq.

 

http://almadapaper.net/ar/news/540774/صالح-الـ-900-مليار-دينار-التي-حققها-المص

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  • yota691 changed the title to Saleh: "The 900 billion dinars achieved by the Iraqi Bank for Trade contribute to move the wheel of the economy
  • yota691 changed the title to A new banking product to support women

A new banking product to suppor t women

   
 

 
 


12/3/2018 12:00 am 

The "tbi" plans to release it soon

Baghdad / Farah Al-Khafaf
The Iraqi Trade Bank intends to launch a new product after successful products launched last year 2017 and achieved the desired goals, in line with the government's intentions to revive the banking sector in

 Iraq. 
"The bank is in the process of launching a new product for women, and this product is directed to branches of the bank in the holy places, such as the holy Najaf and Karbala," said Faisal Al-Hims, general manager of the bank. 
"We will set up a special section for women and open their own bank accounts, which will include special features and services for this product," he said. "It is scheduled to be launched within the next two months after the completion of preparations and rehabilitation of the bank's branches to  
match this product." 
"The bank has succeeded in achieving the objectives set for the launch of banking products and the purpose of the launch, which is to attract money raised in homes and restore citizens' confidence in banks, and contribute to the recycling of money and thus move the wheel of the  
economy." Certificate of Deposit



The Iraqi Bank of Trade held the first annual draw for the product of a certificate of deposit "Tstahl" in the presence of representatives of the Central Bank of Iraq, and the value of 100 million dinars, in addition to the draw included 9 other prizes amount of 7 million and 500 thousand  
dinars. "  
Annual prize: two hundred and fifty million dinars Iraqi. 
and launched the product ((deserve)) for the first time in Iraq by the trade Bank of Iraq in March 2017 after obtaining the Iraqi Central Bank approval, and based on a joint deposit in the amount of five hundred thousand Iraqi dinars in one of the branches of the Iraqi trade Bank, to obtain a certificate of deposit being able to enter In monthly and half-year lashes Yeh and annual according to the instructions of the 
bank. Audience response



"The public's response to the product is very close to the study prepared by the bank before it was launched. The objective was 40 thousand certificates, equivalent to 20 billion dinars, and the bank recorded subscriptions of this product within one year 34 thousand and 500 certificates, 500 thousand Iraqi dinars in the account of the person wishing to participate in the product can be refunded in case of need, and registered certificates of product certificate within one year 17 billion and 250 million dinars. "He pointed out that" the number of awards has been increased to satisfy the public common product, which proved flexibility in dealing with the bank Which increased the volume of contributions that led to the attraction "The product" (Tstahl) "for the second year in a row, after it achieved great popularity and popularity, especially after the number of subscribers more than 34 thousand subscribers in various branches of the 
 bank "He said. 



He also noted that "the second year of the product ((Tstahl)) will be the values of the prizes are different where the monthly draw will be: five awards, including four prizes each of one million Iraqi dinars and a fifth prize of 10 million Iraqi dinars, semi-annual draw: Each with an amount of five million Iraqi dinars and a fifth prize of 40 million Iraqi dinars, while the annual award was worth two hundred and fifty million Iraqi dinars 
On the other hand, the product (Jammar) another success like all other products launched by the bank during the past year is to provide additional features and services For the privileged customer who is deposited in his account In more than 25 million dinars. 
Interest for deposits 
and is characterized by jamaraat in completing banking service without waiting and preference for its client to grant a 0.5 percent interest rates for fixed deposits on prices announced, as well as the granting card ((jamaraat)), which gets the discounts for some free companies
Hotels, restaurants in Baghdad and Basra, and get two tickets for theatrical performances and cinemas 

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  • 8 months later...
Baghdad Post Wednesday, 28 November 2018 12:18 PM

 

As the culmination of a year of great achievements, the representative office of the Iraqi Bank for Trade in Abu Dhabi is ISO 9001 certified

Iraqi Trade Bank


The representative office of the Iraqi Bank for Trade in the United Arab Emirates (UAE) has obtained the ISO 9001: 2015 certification in the quality management system after being audited by the British company LMS Certification Limited. This certificate is awarded to organizations that implement international quality management systems and standards Institutional framework. The bank has received this international certificate in conjunction with the opening of the representative office of the Iraqi Bank for Trade in the UAE capital Abu Dhabi. 

The Iraqi Trade Bank grantsISO certification after evaluating the compliance of the representative office and its application to quality management standards and systems, which will increase the level of satisfaction and interaction of customers and systems and push the process of sustainable development of all the services it provides. , As well as the continuous endeavor of the Bank's management to improve the quality of the services and products it offers to its various customer segments. 
The ISO 9001 standard is the world's most widely used quality management system. This standard also helps organizations improve customer service, monitor quality, manage operations in the organization, and develop business performance in various areas. It is the world's most recognized certification for quality certification and is adopted by more than 1 million organizations in 170 countries around the world to set specific standards in quality management. 

Faisal al-Hims, head of the Iraqi Trade BankChairman of the Board of Directors, said: "We are delighted to have received this certificate. I would like to thank all the employees for the spirit of cooperation and their constant efforts to provide high quality banking services. "This certification is a further achievement of the Bank's achievements throughout the growth process and we will continuously improve and improve our services, ensuring the best banking services for our customers." 

He said: "We are committed to the Trade Bank of Iraq with a clear vision and performance of a professional distinctive with transparency and honesty in the provision of innovative products and services, and to achieve that we adopt and apply best international banking practices using the latest technological techniques and investment in human resources."

He stressed that the bank is working on a set of plans and programs that ensure the provision of services and practice performance in professional ways of high quality and stressed the need to improve the quality of banking services and said: "The ISO certification confirms our commitment to provide high quality banking operations in the region and provide us with the best banking services in the region. And thus provide additional assurance to our customers that we always focus on service development and seek to achieve their satisfaction. "

The certificate was awarded to the Iraqi Bank for Trade in conjunction with the celebration of the bank's first anniversary of the opening of its branch in the Emirate of Abu Dhabi on the Abu Dhabi Global Market on the island of Marais. Which has been a year of achievements for the Bank, which has enhanced local and international banking credibility and contributed to the activation of regional strategic partnerships. The Bank is also celebrating the recent acquisition of the necessary official licenses and approvals from the Saudi authorities to open its first branch in Saudi Arabia, which is expected to open early next year.

The Bank's representative office in Abu Dhabi has played a key role in strengthening financial cooperation and developing projects that ensure a brighter future for Iraq and building strong strategic partnerships with the world's largest companies such as General Electric, Standard Chartered Bank, Orient. The Bank's office in Abu Dhabi also played a role in launching the first fixed-rate investment fund in Iraq, which is one of the achievements of the Bank in the economic and economic development of the country. 

The Iraqi Trade Bank, through its branch in Abu Dhabi, has succeeded in enhancing investment opportunities in Iraq and establishing business relations with major institutions within the banking and financial sectors in the UAE. Today, the Iraqi Trade Bank operatesIn accordance with a comprehensive plan to achieve its strategic objectives at all levels of trade, in addition to supporting the ongoing reconstruction process in Iraq to emphasize the status and enhance its reputation as a banking institution competent to access the global financial networks. 

In a statement about the expansion strategy of the Iraqi Trade Bank and strengthen its presence in the global financial market Alheims said: "The presence of the Iraqi Trade Bank outside Iraq as a very important platform for business, contribute to the access to the business network in Iraq and provide financial expertise to take advantage of the tremendous opportunities available In the Iraqi market .. "

He stressed the importance of the central role of the Iraqi Bank for Trade in achieving economic growth and prosperity of Iraq and continue to play a key role to achieve growth in the country and provide assistance in reconstruction efforts with the support of the network of global institutions and build new relationships with companies and banks around the world. 

The Iraqi Trade Bank has made great achievements since its inception and continues to pursue the vision of 2021 and continues to play a key and influential role in the Iraqi development process. The success of the Bank's efforts is directly related to the stability and prosperity of Iraq and will have a long-term positive impact on Iraqi society. 

The Iraqi Trade Bank has been named Best Bank of Iraq by Global Finance Magazine and has been awarded the Best Commercial Finance Bank award. 

VI
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Good morning Butifldrm,  I like the sound of this article 

 

The bank has received this international certificate in conjunction with the opening of the representative office of the Iraqi Bank for Trade in the UAE capital Abu Dhabi. “

 

Now, if we can get that other “international certificate” we would be rounding the bend 😃

Good morning DV 🙏

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The Iraqi Trade Bank in Abu Dhabi receives ISO 9001
 
2429.png
The slogan of the Iraqi Trade Bank «Economy News»
  

 Banks


Economy News Baghdad

The representative office of the Iraqi Bank for Trade in the United Arab Emirates (UAE) has obtained the ISO 9001: 2015 certification in the quality management system after being audited by the British company LMS Certification Limited .

The certificate is awarded to institutions that implement international standards and standards for total quality management and institutional development.

The bank has received this international certificate in conjunction with the opening of the representative office of the Iraqi Bank for Trade in the UAE capital Abu Dhabi.

A statement by the Bank, read by Al-Iktissad News, said that the award of the ISO certificate came after evaluating the compliance of the representative office and its application of the standards and quality management systems, which will increase the level of satisfaction and interaction of customers and the systems adopted and push forward the sustainable development of all services provided by As well as the continuous pursuit of the Bank's management to improve the quality of the services and products it provides to its various customer segments.

The ISO 9001 standard is the world's most widely used quality management system. This standard also helps organizations improve customer service, monitor quality, manage operations in the organization, and develop business performance in various areas.

"We are committed to a clear vision and professional performance with transparency and honesty in providing innovative products and services. In order to achieve this we have to adopt and apply best international banking practices using the latest technology and investment in human resources," said Faisal Al-Hims, President of the Bank.

"The bank is working on a set of plans and programs that guarantee the provision of services and performance in professional ways of high quality."


Views 263   Date Added 29/11/2018

 

 

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  • yota691 changed the title to Bank of Commerce announces its profits for the past year and converts 15% of them to financial

Bank of Commerce announces its profits for the past year and converts 15% of them to financial

01:46 - 10/12/2018

 
image
 
 


BAGHDAD - 
The director of the Iraqi Trade Bank Faisal Al-Homs said on Monday that the bank had earned 300 million dollars last year, 15% of which was transferred to finance. 
He Alhmas told a news conference room US trade held in Baghdad and attended by , / scales News /, " The profit of the bank last year 300 million dollars , " noting that it " has been transferred 15% to the Ministry of Finance 
, he added , " it was established a branch of the bank in Abu Dhabi last year and got approvals from theSaudi Council of Ministers will be established branch during the first quarter of next year. " 
he added that" we have Iraqi officials within the management of the bank where we deal with the Arab and international banks. " 
he noted that" the Iraqi trade Bank provides several services to its customers, including the provision of Current accounts, auto loans, remittances and receivables Mar Bassan Dinair and special projects for women 

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Iraqi Bank for Trade: Investment with US companies will rebuild the destroyed provinces[/size]

01:15 - 10/12/2018

 


 

 

BAGHDAD - The 
director of the Iraqi Trade Bank, Faisal Al-Homs, Monday, that investment with US companies will rebuild the destroyed provinces and infrastructure in the country. 
"The initiative to invest American companies in Iraq will be rebuilt," he said in a press statement. "Iraq needs this initiative to rebuild more than one province in addition to restoring infrastructure." 
He added that "interaction with the countries of the world is in the interest of the country and the building of the Iraqi state and provide a decent life for the citizen," pointing out that "the Iraqi Bank for Trade is a link with the banks of the world, which facilitates the entry of international companies to work in Iraq through guarantees and will have an active role in This area "


 

https://www.mawazin.net/Details.aspx?jimare=24224

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  • 2 weeks later...
 
2429.png
The slogan of the Iraqi Trade Bank «Economy News»
  

 Banks


Economy News _ Baghdad

The Bank of Iraq (BIC) has granted the BTI a stable outlook, while the bank affirmed that its balance sheet strength, high profitability, liquidity and diversification strategy are behind the rating.

The agency said in a statement, received "The Economist News" a copy of it, "The Iraqi Bank was granted to trade B-degree with a stable outlook, reflecting the decision to praise the institution continued efforts of the Bank of Iraq in the implementation of its comprehensive program of economic reform."

For his part, said the Chairman of the Board of the Iraqi Bank for Trade Faisal Al-Hims in a statement received "economy News" a copy of it, "The classification is the first of its kind for Iraqi banks and in line with the principles of sovereignty in Iraq," stressing the importance of "the role of security stability in the country The recent improvement in foreign investment indicators and the recovery of the commercial market. "

"The strength of the balance sheet and the high level of profitability in the business of the Iraqi Bank for Trade in addition to liquidity and diversification strategy in the corporate sector and retail on the growth rates and employment opportunities resulting from it, and the high creditworthiness of the Iraqi economy and the quality of services provided to the Iraqi citizen, in addition to our success in providing Innovative banking products and services that have played an important role in this category. "

The Bank of Iraq's classification of credit rating B - to be the first Iraqi bank to obtain a credit rating official by a rating agency global, the main factors that lead to a positive assessment is to improve the growth prospects and the business environment and security situation, Budget, thereby reducing the debt-to-GDP ratio over the medium term.

All of the Bank's financial and banking operations have been evaluated according to internationally recognized Fitch standards, which represent the Bank's overall financial health with a focus on financial reporting, portfolio management, profitability and diversification, as well as liquidity, income and other banking factors.

It is worth noting that the Iraqi Trade Bank has achieved great achievements since its opening in 2003, and continues to play a key role and influence in the development process of Iraq. The success of the Bank's efforts is directly related to the stability and prosperity of Iraq and will have a long-term positive impact on Iraqi society.

The Iraqi Bank for Trade has a network of banking branches in Iraq which plays a very important role in identifying sources of financing and securing projects. As a leading and trusted institution among international banking institutions, the Bank has opened a representative office in the UAE in 2017. Since then, the Bank has established joint working and cooperation relationships with leading international banks and financial institutions to finance infrastructure projects inside Iraq, Reconstruction of Iraq.


Number of views 8   Date added 19/12/2018
 

 
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  • yota691 changed the title to An international agency that gives an Iraqi bank an internationally recognized credit rating
 
Wednesday, December 19
 
 
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Al-Sumaria News / Baghdad
The credit rating agency Fitch announced on Wednesday that the Bank of Iraq (BBI) was granted a stable outlook, while the bank affirmed that the strength of the balance sheet and the high level of profitability in its business, liquidity and diversification strategy behind the classification. 

In a statement, Alsumaria News received a copy of it that "the Iraqi Bank of Commerce was granted a B-degree with a stable outlook, reflecting the decision to commend the institution's continued efforts of the Bank of Iraq to implement its comprehensive program of economic reform."

 

 


For his part, said the Chairman of the Board of the Iraqi Bank for Trade Faisal Al-Hims in a statement received Alsumaria News a copy of it, "classification is the first of its kind for Iraqi banks and being in line with the principles of sovereignty in Iraq," stressing the importance of "the role of security stability in the country during the recent In improving foreign investment indicators and recovering the commercial market. " 

"The strength of the balance sheet and the high level of profitability in the business of the Iraqi Bank for Trade in addition to liquidity and diversification strategy in the corporate sector and retail on the growth rates and employment opportunities resulting from it, and the high creditworthiness of the Iraqi economy and the quality of services provided to the Iraqi citizen, in addition to our success in providing Innovative banking products and services that have played an important role in this category. "

The Bank of Iraq's classification of credit rating B - to be the first Iraqi bank to obtain a credit rating official by a rating agency global, the main factors that lead to a positive assessment is to improve the growth prospects and the business environment and security situation, Budget, thereby reducing the debt-to-GDP ratio over the medium term. 

All of the Bank's financial and banking operations have been evaluated according to internationally recognized Fitch standards, which represent the Bank's overall financial health with a focus on financial reporting, portfolio management, profitability and diversification, as well as liquidity, income and other banking factors.

It is worth noting that the Iraqi Trade Bank has achieved great achievements since its opening in 2003, and continues to play a key role and influence in the development process of Iraq. The success of the Bank's efforts is directly related to the stability and prosperity of Iraq and will have a long-term positive impact on Iraqi society. 

The Iraqi Bank for Trade has a network of banking branches in Iraq which plays a very important role in identifying sources of financing and securing projects. As a leading and trusted institution among international banking institutions, the Bank has opened a representative office in the UAE in 2017. Since then, the Bank has established joint working and cooperation relationships with leading international banks and financial institutions to finance infrastructure projects inside Iraq, Reconstruction of Iraq.

It is worth noting that BTI is a leading financial institution in Iraq and has financial transactions with a network of 417 international banks in 61 countries around the world. 

At the end of 2017, the total assets of the Iraqi Trade Bank amounted to US $ 19.300 billion, with a net profit of US $ 362.432 million. The Iraqi Trade Bank has a local branch network of 25 branches across Iraq with 122 ATMs and cash deposit. He is considered one of the most important banks in the Middle East for his international reputation, which enabled him to win many awards. This success is attributed to the confidence of customers and citizens in the Bank, which has played a prominent role in maintaining the leading position.

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  • yota691 changed the title to The first Iraqi bank to receive an internationally recognized credit rating

The first Iraqi bank to receive an internationally recognized credit rating

02:04 - 19/12/2018

 
image
 
 

Baghdad - 
The credit rating agency Fitch announced on Wednesday that the Iraqi Bank for Trade B-degree with a stable outlook, while the bank stressed that the strength of the balance sheet and the high level of profitability in its work as well as liquidity and diversification strategy behind the classification. 
According to the agency that the classification of the Iraqi Bank for Trade came to the credit rating B - to be the first Iraqi bank to obtain a credit rating official by a rating agency of the world, the main factors that lead to a positive assessment is to improve the prospects for growth and the business environment and security situation, Reduce the budget deficit, thereby reducing the debt ratio of GDP over the medium term.
All of the Bank's financial and banking operations have been evaluated according to internationally recognized Fitch standards, which represent the Bank's overall financial health with a focus on financial reporting, portfolio management, profitability and diversification, as well as liquidity, income and other banking factors. 
Faisal Al-Hims, Chairman of the Board of Directors of the Iraqi Bank for Trade, said that the risks to the classification are balanced at the present time, pointing to the importance of the role of security stability in the country during recent times in improving indicators of foreign investment and the recovery of the commercial market. He expressed his happiness with the result of the credit rating, describing it as a major achievement as the first of its kind for the Iraqi banks, and that it is in line with the principles of sovereignty in Iraq.
Commenting on the Fitch Ratings decision, Mr. Faisal Al-Hims said: "The strength of the balance sheet, the high level of profitability in the BTI's business, coupled with liquidity, diversification strategy in the corporate and retail sectors, confirm the growth and employment opportunities resulting from it. The creditworthiness of the Iraqi economy and the quality of services provided to the Iraqi citizen, as well as our success in providing innovative banking products and services, which demonstrates our relentless efforts in implementing our strategic initiatives. " 
"We have achieved many achievements that have won numerous awards and accolades in recent years, and we continue to relentlessly pursue our vision with greater enthusiasm and determination."
It is worth noting that the Iraqi Trade Bank has achieved great achievements since its opening in 2003, and continues to play a key role and influence in the development process of Iraq. The success of the Bank's efforts is directly related to the stability and prosperity of Iraq and will have a long-term positive impact on Iraqi society. 
The Iraqi Bank for Trade has a network of banking branches in Iraq which plays a very important role in identifying sources of financing and securing projects. As a leading and trusted institution among international banking institutions, the Bank has opened a representative office in the UAE in 2017. Since then, the Bank has established joint working and cooperation relationships with leading international banks and financial institutions to finance infrastructure projects inside Iraq, Reconstruction of Iraq.
It is worth noting that BTI is a leading financial institution in Iraq and has financial transactions with a network of 417 international banks in 61 countries around the world. 
At the end of 2017, the total assets of the Iraqi Trade Bank amounted to US $ 19.300 billion, with a net profit of US $ 362.432 million. The Iraqi Trade Bank has a local branch network of 25 branches across Iraq with 122 ATMs and cash deposit. And is one of the most important banks in the Middle East because of its global reputation enabled him to win many awards, and this success is attributed to the confidence of customers and citizens of the bank.

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Baghdad Post Wednesday, 19 December 2018 02:37 PM

 

Fitch grants the Iraqi Trade Bank an internationally recognized credit rating

 

The Fitch Ratings Agency announced on Wednesday that the Iraqi Trade Bank (BTI) was granted a B-degree with a stable outlook.

While the Bank stressed that the strength of the balance sheet and the high level of profitability in its business, along with liquidity and diversification strategy behind the classification.

Count

https://www.thebaghdadpost.com/ar/Story/139212/وكالة-فيتش-تمنح-المصرف-العراقي-للتجارة-تصنيفا-ائتمانيا-معترف-به-دوليا

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Date of release: 2018/12/19 14:37  57 times read
The first Iraqi bank to receive an internationally recognized credit rating
The credit rating agency Fitch Ratings has rated B-B with a stable outlook. The decision reflects the institution's continuing efforts to implement its comprehensive economic reform program.
The Bank of Iraq's classification of credit rating B - to be the first Iraqi bank to obtain a credit rating official by a rating agency global, the main factors that lead to a positive assessment is to improve the growth prospects and the business environment and security situation, Budget, thereby reducing the debt-to-GDP ratio over the medium term. 
All of the Bank's financial and banking operations have been evaluated according to internationally recognized Fitch standards, which represent the Bank's overall financial health with a focus on financial reporting, portfolio management, profitability and diversification, as well as liquidity, income and other banking factors.
Faisal Al-Hims, Chairman of the Board of Directors of the Iraqi Bank for Trade, said that the risks to the classification are balanced at the present time, pointing to the importance of the role of security stability in the country during recent times in improving indicators of foreign investment and the recovery of the commercial market. He expressed his happiness with the result of the credit rating, describing it as a major achievement as the first of its kind for the Iraqi banks, and that it is in line with the principles of sovereignty in Iraq.
Commenting on the Fitch Ratings decision, Mr. Faisal Al-Hims said: "The strength of the balance sheet, the high level of profitability in the BTI's business, coupled with liquidity, diversification strategy in the corporate and retail sectors, confirm the growth and employment opportunities resulting from it. The creditworthiness of the Iraqi economy and the quality of services provided to the Iraqi citizen, as well as our success in providing innovative banking products and services, which demonstrates our relentless efforts in implementing our strategic initiatives. " 
"We have achieved many achievements that have won numerous awards and accolades in recent years, and we continue to relentlessly pursue our vision with greater enthusiasm and determination."
It is worth noting that the Iraqi Trade Bank has achieved great achievements since its opening in 2003, and continues to play a key role and influence in the development process of Iraq. The success of the Bank's efforts is directly related to the stability and prosperity of Iraq and will have a long-term positive impact on Iraqi society. 
The Iraqi Bank for Trade has a network of banking branches in Iraq which plays a very important role in identifying sources of financing and securing projects. As a leading and trusted institution among international banking institutions, the Bank has opened a representative office in the UAE in 2017. Since then, the Bank has established joint working and cooperation relationships with leading international banks and financial institutions to finance infrastructure projects inside Iraq, Reconstruction of Iraq.
It is worth noting that BTI is a leading financial institution in Iraq and has financial transactions with a network of 417 international banks in 61 countries around the world. 
At the end of 2017, the total assets of the Iraqi Trade Bank amounted to US $ 19.300 billion, with a net profit of US $ 362.432 million. The Iraqi Trade Bank has a local branch network of 25 branches across Iraq with 122 ATMs and cash deposit. And is considered one of the most important banks in the Middle East because of its international reputation, which enabled him to win many awards, and this success is attributed to the confidence of customers and citizens of the bank, which had a prominent role in maintaining the leading position.
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An international agency that gives an Iraqi bank an internationally recognized credit rating

 

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The Bank of Iraq (BIC) has granted the BTI a stable outlook, while the bank affirmed that its balance sheet strength, high profitability, liquidity and diversification strategy are behind the rating.
The agency said in a statement, received "The Economist News" a copy of it, "The Iraqi Bank was granted to trade B-degree with a stable outlook, reflecting the decision to praise the institution continued efforts of the Bank of Iraq in the implementation of its comprehensive program of economic reform."
For his part, said the Chairman of the Board of the Iraqi Bank for Trade Faisal Al-Hims in a statement received "economy News" a copy of it, "The classification is the first of its kind for Iraqi banks and in line with the principles of sovereignty in Iraq," stressing the importance of "the role of security stability in the country The recent improvement in foreign investment indicators and the recovery of the commercial market. "
"The strength of the balance sheet and the high level of profitability in the business of the Iraqi Bank for Trade in addition to liquidity and diversification strategy in the corporate sector and retail on the growth rates and employment opportunities resulting from it, and the high creditworthiness of the Iraqi economy and the quality of services provided to the Iraqi citizen, in addition to our success in providing Innovative banking products and services that have played an important role in this category. "
The Bank of Iraq's classification of credit rating B - to be the first Iraqi bank to obtain a credit rating official by a rating agency global, the main factors that lead to a positive assessment is to improve the growth prospects and the business environment and security situation, Budget, thereby reducing the debt-to-GDP ratio over the medium term.
All of the Bank's financial and banking operations have been evaluated according to internationally recognized Fitch standards, which represent the Bank's overall financial health with a focus on financial reporting, portfolio management, profitability and diversification, as well as liquidity, income and other banking factors.
It is worth noting that the Iraqi Trade Bank has achieved great achievements since its opening in 2003, and continues to play a key role and influence in the development process of Iraq. The success of the Bank's efforts is directly related to the stability and prosperity of Iraq and will have a long-term positive impact on Iraqi society.
The Iraqi Bank for Trade has a network of banking branches in Iraq which plays a very important role in identifying sources of financing and securing projects. As a leading and trusted institution among international banking institutions, the Bank has opened a representative office in the UAE in 2017. Since then, the Bank has established joint working and cooperation relationships with leading international banks and financial institutions to finance infrastructure projects inside Iraq, Reconstruction of Iraq.
Views 105   Date Added 19/12/2018
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An international agency that gives an Iraqi bank an internationally recognized credit rating

 

Wednesday, December 19,

 

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The credit rating agency Fitch announced on Wednesday that the Bank of Iraq (BBI) was granted a stable outlook, while the bank affirmed that the strength of the balance sheet and the high level of profitability in its business, liquidity and diversification strategy behind the classification. 

In a statement, Alsumaria News received a copy of it that "the Iraqi Bank of Commerce was granted a B-degree with a stable outlook, reflecting the decision to commend the institution's continued efforts of the Bank of Iraq to implement its comprehensive program of economic reform."


For his part, said the Chairman of the Board of the Iraqi Bank for Trade Faisal Al-Hims in a statement received Alsumaria News a copy of it, "classification is the first of its kind for Iraqi banks and being in line with the principles of sovereignty in Iraq ," stressing the importance of "the role of security stability in the country during the recent In improving foreign investment indicators and recovering the commercial market. " 

"The strength of the balance sheet and the high level of profitability in the business of the Iraqi Bank for Trade in addition to liquidity and diversification strategy in the corporate sector and retail on the growth rates and employment opportunities resulting from it, and the high creditworthiness of the Iraqi economy and the quality of services provided to the Iraqi citizen, in addition to our success in providing Innovative banking products and services that have played an important role in this category. "

The Bank of Iraq's classification of credit rating B - to be the first Iraqi bank to obtain a credit rating official by a rating agency global, the main factors that lead to a positive assessment is to improve the growth prospects and the business environment and security situation, Budget, thereby reducing the debt-to-GDP ratio over the medium term. 

All of the Bank's financial and banking operations have been evaluated according to internationally recognized Fitch standards, which represent the Bank's overall financial health with a focus on financial reporting, portfolio management, profitability and diversification, as well as liquidity, income and other banking factors.

It is worth noting that the Iraqi Trade Bank has achieved great achievements since its opening in 2003, and continues to play a key role and influence in the development process of Iraq. The success of the Bank's efforts is directly related to the stability and prosperity of Iraq and will have a long-term positive impact on Iraqi society. 

The Iraqi Bank for Trade has a network of banking branches in Iraq which plays a very important role in identifying sources of financing and securing projects. As a leading and trusted institution among international banking institutions, the Bank has opened a representative office in the UAE in 2017. Since then, the Bank has established joint working and cooperation relationships with leading international banks and financial institutions to finance infrastructure projects inside Iraq, Reconstruction of Iraq.

It is worth noting that BTI is a leading financial institution in Iraq and has financial transactions with a network of 417 international banks in 61 countries around the world. 

At the end of 2017, the total assets of the Iraqi Trade Bank amounted to US $ 19.300 billion, with a net profit of US $ 362.432 million. The Iraqi Trade Bank has a local branch network of 25 branches across Iraq with 122 ATMs and cash deposit. He is considered one of the most important banks in the Middle East for his international reputation, which enabled him to win many awards. This success is attributed to the confidence of customers and citizens in the Bank, which has played a prominent role in maintaining the leading position.




https://www.alsumaria.tv/news/255555/%D9%88%D9%83%D8%A7%D9%84%D8%A9-%D8%AF%D9%88%D9%84%D9%8A%D8%A9-%D8%AA%D9%85%D9%86%D8%AD-%D9%85%D8%B5%D8%B1%D9%81%D8%A7-%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A7-%D8%AA%D8%B5%D9%86%D9%8A%D9%81%D8%A7-%D8%A7%D8%A6%D8%AA%D9%85%D8%A7%D9%86%D9%8A%D8%A7-%D9%85%D8%B9%D8%AA%D8%B1/ar

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Original Sources  

 

Fitch Rates Trade Bank of Iraq 'B-': Outlook Stable

17 DEC 2018 09:38 AM ET




Fitch Ratings-London-17 December 2018: Fitch Ratings has assigned Trade Bank of Iraq (TBI) a Long-Term Issuer Default Rating (IDR) of 'B-' with Stable Outlook. A full list of rating actions is at the end of this rating action commentary.

KEY RATING DRIVERS 
IDRS AND VIABILITY RATING 
TBI's IDRs are driven by the bank's Viability Rating (VR) and underpinned by potential sovereign support.

TBI's VR of 'b-' is constrained by the operating environment in Iraq, which can be volatile and challenging, and where TBI generates 85% of its business volume (on- and off-balance sheet exposure). Therefore, the operating environment and broader country risks influence TBI's standalone risk profile. 

TBI's company profile is a relative strength for the rating. It captures the bank's important trade finance role, as Iraq's primary bank for financing imports, leading market share in Iraq (30% of sector assets), and largely government-led business in terms of lending, off-balance sheet transactions and customer deposit funding. TBI was set up in 2003 by the Coalition Provisional Authority (the transitional government of Iraq at the time) with the support of a consortium of 13 major international banks from 13 countries, which provided technical and operational expertise. TBI is now fully operational and is systemically important to Iraq.

TBI's key strategic objectives are to build a universal banking franchise in Iraq (with growth in domestic retail banking and project finance) and expand regionally through acquisitions. The latter is partly driven by the government's efforts to reintegrate Iraq in the international financial markets. This also opens the bank to significant execution risks if the expansion is not managed adequately. The bank currently has a representative office in Abu Dhabi and has recently been granted licence to open a branch Saudi Arabia. 

Asset quality is a rating weakness. TBI has a very high impaired loan ratio (41% at end-2017). Most impaired exposures were originated during 2014-2015 in a period of political turmoil and heightened security risks with the rise of ISIS in Iraq. Recent impaired loan generation is attributable to the drop in oil prices given the high oil dependence nature of the Iraqi economy (oil accounts for more than 50% of GDP). TBI's impaired loans include both cash loans and trade finance facilities that got impaired (moved onto balance sheet). Under new management, TBI has made strong strides in recoveries, which total USD640 million to date in 2018 (2017: USD210 million). 

TBI has a satisfactory funding and liquidity position, helped by substantial government deposits. Profitability is also satisfactory, with core net interest income growing in 2017 despite slow business volume growth due to conflict and low oil prices. 

Capitalisation is a relative strength, with TBI reporting very strong regulatory Basel I total capital adequacy ratio and Fitch Core Capital ratio of 67% at end-2017. At the same time, these strong metrics should be viewed in the context of 0% risk weightings applied to all of TBI's sovereign and government exposure. TBI is expected to report regulatory capital ratios under Basel III in 2019. 

For now, TBI's leverage, as defined by the bank's tangible common equity/tangible assets ratio, which was a satisfactory 16.7% at end-2017, is a more reasonable measure of capitalisation in our view. 

TBI has around USD3.7 billion equivalent of Iraqi dinar deposits trapped in the Kurdish region due to a political dispute with the central government, which would eliminate TBI's equity if deducted. TBI expects to recover this amount due to ongoing discussions between both parties. These deposits are excluded from TBI's reported liquidity ratios (Basel III liquidity coverage ratio of 186% and net stable funding ratio of 162% at end-9M18), which are very healthy. 

SUPPORT RATING AND support RATING FLOOR
TBI's support Rating of '5' and support Rating Floor of 'B-' reflect Fitch view that sovereign support, while possible, cannot be relied upon.

Fitch believes that the authorities would have a strong propensity to support TBI in case of need. This considers the role played by TBI on behalf of the government, the bank's systemic importance, as well as its 100% state-ownership. Nevertheless, Fitch's view is that sovereign support cannot be relied upon given Iraq's own creditworthiness (as indicated by the sovereign's 'B-' IDR) and potential delays in providing timely and sufficient support due to country risks including an uncertain political environment in Iraq. 

RATING SENSITIVITIES
IDRS AND VR
TBI's IDRs and VR are sensitive to a change in the Iraqi sovereign rating. They are also sensitive to further asset quality deterioration or an increase in country risk, leading to more challenging operating conditions. Finally, the VR is also sensitive to TBI making a major acquisition abroad that could materially change its overall risk profile.

SUPPORT RATING AND support RATING FLOOR
TBI's SR and SRF are also sensitive to a change in the Iraqi sovereign rating. They could be downgraded/revised if Fitch views that the state's willingness to support the bank is diminishing, for example in the event of a change in TBI's role or a material reduction in government ownership.

The rating actions are as follows: 

Trade Bank of Iraq
Long-Term IDR assigned at 'B-': Outlook Stable
Short-Term IDR assigned at 'B'
Viability Rating assigned at 'b-'
Support Rating assigned at '5'
Support Rating Floor assigned at 'B-'

Date of Relevant Committee: 13 December 2018

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  • yota691 changed the title to Iraqi Trade Bank announces results of profits and revenues last year

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