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The Trade Bank of Iraq achieves unprecedented performance in 2019

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The Trade Bank of Iraq achieves unprecedented performance in 2019

  http://economy-news.net/content.php?id=19046
 
Economy News _ Baghdad

The Iraqi Trade Bank, TBI, announced on Sunday, exceptional and unprecedented performance indicators for the year 2019, which witnessed an increase in revenues and significant growth in the main financial rates of the bank.
The bank said in a statement received by "Al-Iqtisad News", that it successfully concluded the year 2019 with a 12% increase in revenues over the year 2018 by $ 673 million, and with net profits of $ 556 million, to continue the growth and expansion of its banking transactions, registering a noticeable increase of 68% from In 2018, with an increase in the total assets of the bank, it reached $ 29 billion, an increase of 27% compared to 2018.
He added that he supported the Iraqi economy and reconstruction projects, with a total of $ 1.9 billion in loans granted during 2019 to support government institutions and agencies, noting that he directed a large part of his loans to serve and develop government initiatives in upgrading infrastructure and community development.
He continued that the personal loans granted by the bank increased in 2019 to reach 434 million USD, with a total of 25,290 loans, which contributed to driving the growth of the local economy by supporting Iraqi citizens to establish and develop their personal needs in construction and other purposes.
He pointed to the bank’s keenness to provide financial services to different groups of the Iraqi community through geographical expansion and the opening of multiple branches inside Iraq, which numbered to 26 branches. The bank also expanded externally as it opened the first representative office for the bank in the UAE capital Abu Dhabi and opened its first external branch in the Kingdom of Saudi Arabia Saudi Arabia The bank is working on its external expansion to diversify its sources of income and revenues.
And he added that, since its establishment in 2003, he has been working with the Central Bank of Iraq to develop and improve the educational, cultural, economic and social security level of community members through the provision of various services, and the bank has put forward several initiatives to finance small and medium projects in proportion to all business sectors, and the Iraqi Trade Bank has acquired On about 80% of commercial financing business in Iraq, and it ranks first among Arab banks in terms of cost-to-income ratio.
The statement quoted Faisal Al-Heims, President of the Iraqi Bank for Trade and Chairman of the Board as saying, "The Iraqi Trade Bank witnessed an accelerated growth in the financial and investment fields during the year 2019, and we have an ambitious plan to expand the bank's business locally and internationally with the aim of increasing the percentage of revenues it generates from the banking services for individuals locally as well as from International operations to achieve an annual increase of 30% annually for the bank's revenues according to the work plan for the years from 2020 to 2023, and we see that any achievement the bank achieves is part of the achievements of the Iraqi economy as a whole.
He added: "We will continue to push our initiatives to develop banking technology and enhance customer service to improve the experience of our customers and reduce costs. We also strive to encourage and secure foreign investment, and to promote investment in the Iraqi interior and provide its services as a reliable option for investors."

 

Number of views 74 Posted on 02/16/2020
 
 

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Iraqi government bank achieves unprecedented performance in 2019

%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-%D9%84%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9.jpg
 

16th February 2020

 

The Iraqi Trade Bank, TBI, announced on Sunday exceptional and unprecedented performance indicators for the year 2019 which witnessed an increase in revenues and significant growth in the bank's main financial rates

The bank said in a statement to Shafaq News, that it successfully concluded the year 2019 with an increase of 12% in revenue over 2018 of $ 673 million, and with net profits of $ 556 million, to continue the growth and expansion of its banking transactions, registering a noticeable increase of 68% over 2018 , With an increase in the bank’s total assets reaching $ 29 billion, an increase of 27% compared to 2018

He added that he supported the Iraqi economy and reconstruction projects, with a total of $ 1.9 billion in loans granted during 2019 to support government institutions and agencies, noting that he directed a large part of his loans to serve and develop government initiatives in upgrading infrastructure and community development

He continued that the personal loans granted by the bank increased in 2019 to reach 434 million USD, with a total of 25,290 loans, which contributed to driving the growth of the local economy by supporting Iraqi citizens to establish and develop their personal needs in construction and other purposes

He pointed to the bank’s keenness to provide financial services to different groups of the Iraqi community through geographical expansion and opening multiple branches inside Iraq, which numbered to 26 branches. The bank also expanded externally as it opened the first representative office for the bank in the UAE capital Abu Dhabi and opened its first external branch in the Kingdom of Saudi Arabia Saudi Arabia The bank is working on its external expansion to diversify its sources of income and revenues

And he added that, since its establishment in 2003, he has been working with the Central Bank of Iraq to develop and improve the educational, cultural, economic and social security level of community members through the provision of various services, and the bank has put forward several initiatives to finance small and medium projects in proportion to all business sectors, and the Iraqi Trade Bank has acquired On about 80% of commercial financing business in Iraq, and it ranks first among Arab banks in terms of cost-to-income ratio

The statement quoted Faisal Al-Heims, President of the Iraqi Bank for Trade and Chairman of the Board as saying, "The Iraqi Trade Bank witnessed an accelerated growth in the financial and investment fields during the year 2019, and we have an ambitious plan to expand the bank's business locally and internationally with the aim of increasing the percentage of revenues it generates from the banking services for individuals locally as well as from International operations to achieve an annual increase of 30% annually for the bank's revenues according to the work plan for the years from 2020 to 2023, and we see that any achievement the bank achieves is part of the achievements of the Iraqi economy as a whole

He added: "We will continue to push our initiatives to develop banking technology and enhance customer service to improve the experience of our customers and reduce costs. We also strive to encourage and secure foreign investment, and to promote investment in the Iraqi interior and provide its services as a reliable option for investors

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The Trade Bank of Iraq achieves unprecedented performance in 2019 

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“The Iraqi Trade Bank, TBI, announced on Sunday exceptional and unprecedented performance indicators for the year 2019 which witnessed an increase of 12% in revenues and significant growth in the bank's mainfinancial rates”

 

Just Imagine when the CBI removes exchange control and they move to

an open market economy.

 

Go National development plan 

Go Diversification of the economy 

Go economic growth 

 

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Doc-P-334644-637175236462210782.thumb.jpg.e6c83ca6f5816b5b8f5ebe98e68d010b.jpg

https://www.alsumaria.tv/news/اقتصاد/334644/المصرف-العراقي-للتجارة-تحقيق-أرباح-صافية-قدرها-556WE

 

 

The Iraqi Trade Bank (TBI) announced, on Monday, the achievement of net profits of $ 556 million, and the achievement of returns of $ 673 million in 2019, noting that the total loans provided by the bank and allocated to support institutions and government agencies amounted to $ 1.9 billion during the past year .

 
The bank’s media office said in a statement that Alsumaria News received a copy of it, “The bank successfully concluded in 2019 an increase of 12% in revenue over 2018 by $ 673 million and net profits of $ 556 million, in order to continue the growth and expansion of its banking transactions, registering a noticeable increase An increase of 68% over the year 2018, achieving a remarkable achievement, especially with the preliminary financial statements revealed for the year ending December 31, 2019, an increase in the total assets of the bank, amounting to USD 29 billion, an increase of 27% compared to 2018.
 
 

He pointed out that "these impressive results led to the bank obtaining several awards during the year, including the Excellence Award from GB Morgan, and three awards for excellence within the" The Banker Awards "for the year 2019 which was held recently in London."

He added, “With its accelerated accomplishments, the Trade Bank of Iraq is the main engine for development in the Iraqi economy, especially with the bank’s efforts to support the Iraqi economy and its participation in reconstruction projects, with a total of $ 1.9 billion in loans granted during 2019 to support institutions and government agencies. The social and national role of the bank is an essential part of its plans and its vision of sustainability during 2019, and its projects touch on various areas, including health, education, agriculture, electricity and infrastructure, the lives of millions of Iraqi citizens.
 
 
 
And between: "The bank had directed a large part of its loans to serve and develop government initiatives in upgrading infrastructure and community development. For example, during 2019 the bank granted a loan to the Ministry of Electricity in the amount of $ 452 million (535 billion Iraqi dinars) allocated from the Iraqi Bank To support the efforts of developing the energy sector and raising the level of services provided to the Iraqi citizen, in the same year, the bank arranged a loan for the General Company for Grain Trade of the Ministry of Trade of $ 1.4 trillion and four hundred billion Iraqi dinars, equivalent to 1.2 billion two hundred million US dollars in order to pay the dues of farmers Iraqis for the year 2019 from the crops of wheat and rice, and lending to the Ministry of Agriculture 300 billion dinars Iraqi equivalent to US $ 254 million to pay dues to the farmers barley harvest. "

He pointed out that "the personal loans granted by the bank increased in 2019 to $ 434 million, with a total of 25,290 loans, which contributed to driving the growth of the local economy by supporting Iraqi citizens to establish and develop their personal needs in construction and other purposes."

He explained that, "In the context of financial inclusion, the bank was keen to provide financial services to different groups of the Iraqi society through geographical expansion and opening multiple branches inside Iraq, the number of which reached 26 branches. The bank also expanded externally as it opened the first representative office for the bank in the UAE capital Abu Dhabi and opened Its first external branch in the Kingdom of Saudi Arabia and the bank is working on its external expansion to diversify its income sources and revenues.

The media office of the bank noted that "during the year 2019, the Iraqi Trade Bank won the title of the most secure bank in Iraq by Global Finance in an exclusive survey conducted by the famous magazine as part of its annual classification of the best banks in the world."

The statement quoted the President of the Iraqi Bank for Trade and Chairman of the Board Faisal Al-Heims, saying: "The Iraqi Trade Bank witnessed an exponential growth in the financial and investment fields during the year 2019, and we have an ambitious plan to expand the bank's business locally and internationally with the aim of increasing the percentage of revenues achieved by the banking services for individuals locally as well From the international operations to achieve an annual increase of 30% annually for the bank’s revenues according to the work plan for the years from 2020 to 2023, and we see that any achievement the bank achieves is part of the achievements of the Iraqi economy as a whole. ”

He added: “We will continue to push our initiatives to develop banking technology and enhance customer service to improve our customers’ experience and reduce costs. We also strive to encourage and secure foreign investment, promote investment in the Iraqi interior and provide its services as a reliable option for investors. ”

 

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Trade Bank of Iraq


14991333_1594854070821439_90741945117141

 

19th February, 2020

 

A video showing how to recover receipts from electronic cards during the withdrawal
process that was not received from the ATM.


VIDEO LINK

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Information campaign to the citizens.

 

Go CBI

Go banking system

Go financial inclusion

Go e-banking

Go e-card

Go ATM/POS/Visa/Master Card

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TRADE BANK OF IRAQ CONTINUES STRONG GROWTH AND POSTS NET PROFIT OF USD 556 MILLION FOR 2019

https://tbi.com.iq/?news=trade-bank-of-iraq-continues-strong-growth-and-posts-net-profit-of-usd-556-million-for-2019

 

Baghdad, Iraq, 17 February 2020: Trade Bank of Iraq (TBI), established in 2003, achieved a robust growth in revenues and in key financial areas during 2019, for another consecutive year with its consistent performance, preliminary report released by the bank for the financial year during 31/12/2019.

The bank posted a net profit of USD 556 million in 2019, an increase of 68% from 2018, on revenues of USD 673 million, which grew by 12% over the previous year.

Financial unaudited statements for the year ending 31st December 2019 reveal enhanced financial strength of TBI as a consequence of incessant improvements throughout the year in key sectors, including gross revenue and total assets.

The total assets of TBI grew to USD 29 billion in 2019 thereby recording an increase of 27% As a preliminary comparison to 2018.

Primary results the resilient earnings and improved asset base have earned TBI multiple awards at the recently held The Banker Awards 2019 in London.

The bank granted loans during 2019 to the tune of USD 434 million, the 2019 bank’s efforts made to lift the Iraqi economy and social development during the year through loans aggregating USD 1.9 billion for various Iraqi governmental and public sector projects in energy, industrial, agricultural and commercial sectors, assisting them in achieving further growth of the Iraqi economy

TBI is currently working on expanding its network domestically & Internationally to diversify the sources of revenue from retail banking in Iraq to international operations in order to achieve a 30% compounded annual growth rate envisaged in the bank’s business plan for 2020-23.

The bank opened its first branch outside Iraq last year in Riyadh, KSA and plans to upgrade its representative office in Abu Dhabi Global Market to enable it to conduct investment management and advisory activities.

Faisal Al Haimus, Chairman & President of Trade Bank of Iraq, said: “last year has been a good period for TBI and we have continued to support businesses and financial institutions to facilitate growth and expansion across many sectors.

We have achieved this success through prudent risk management and our aggressive technology-supported expansion strategy.

We will continue to thrust our technology-driven customer service initiatives in order to ensure more efficient and diverse services to our customers, reduce costs, and improve productivity.

“As part of our strategic plan, we are aiming for bigger retail and international business to achieve a growth rate of 30% of our total revenues, year on year basis, in the next three years through new technology-driven, need-based product offerings and international expansion.

As TBI moves forward with its 2020-23 strategic plan that will take the bank higher, it will continue to play a pivotal and influential role in Iraq’s ongoing recovery.”

-END-

Edited by 6ly410
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CBI reported that currency reserves are growing, gold reserves are growing, investment portfolio is growing. Now the (TBI)Trade Bank of Iraq reporting profits of $556 million dollars in 2019

 

Just imagine the profits in an open market economy 

 

I believe the banking system is ready for international business.

 

Go CBI

Go international 

Go open market economy 

Go RV

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1 hour ago, Laid Back said:

CBI reported that currency reserves are growing, gold reserves are growing, investment portfolio is growing. Now the (TBI)Trade Bank of Iraq reporting profits of $556 million dollars in 2019

 

Just imagine the profits in an open market economy 

 

I believe the banking system is ready for international business.

 

Go CBI

Go international 

Go open market economy 

Go RV

 

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