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The Trade Bank of Iraq achieves unprecedented performance in 2019 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

The Trade Bank of Iraq achieves unprecedented performance in 2019

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The Trade Bank of Iraq achieves unprecedented performance in 2019 Empty The Trade Bank of Iraq achieves unprecedented performance in 2019

Post by claud39 on Sun Feb 16, 2020 6:23 am

The Trade Bank of Iraq achieves unprecedented performance in 2019


02/16/2020





The Trade Bank of Iraq achieves unprecedented performance in 2019 19080



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 a 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 total loans of $ 1.9 billion granted during 2019 to support institutions and government agencies, noting that He directed a large portion of his loans to serve and develop government initiatives In improving the 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."





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The Trade Bank of Iraq achieves unprecedented performance in 2019 Empty The Iraqi Trade Bank strengthens its successes to contribute to economic growth and the advancement of Iraq

Post by claud39 on Tue Feb 18, 2020 4:15 pm

The Trade Bank of Iraq achieves unprecedented performance in 2019 New_Logo-150x150



[rtl]With net profit of US $ 556 million for 2019;[/rtl]
[rtl]The Iraqi Trade Bank strengthens its successes to contribute to economic growth and the advancement of Iraq[/rtl]

  • The Iraqi Bank achieved returns of $ 673 million in 2019.

  • The total value of the bank's assets during the year 2019 reached $ 29 billion, an increase of 27% compared to 2018.

  • The bank’s total loans allocated to support government institutions and agencies reached USD 1.9 billion during 2019.

  • The bank granted citizens inside Iraq a total of $ 434 million in personal loans.


[rtl]Baghdad, Iraq , February 17, 2020: The Iraqi Trade Bank (TBI) today announced 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.[/rtl]
[rtl]Iraqi trade in 2019 the Bank has successfully concluded an increase of 12% in revenue for the year 2018 amounting to 673 million US dollars , and profit net reached $ 556 million US , to continue the growth and expansion of banking transactions , recording a significant increase of 68% for the year 2018, and thus achieving an achievement feat, Especially with what the preliminary financial statements for the year ending December 31, 2019 revealed, an increase in the total assets of the bank that reached $ 29 billion , an increase of 27% compared to 2018.[/rtl]
[rtl]These impressive results led to the bank receiving numerous awards during the year, including the GB Morgan Excellence Award and three awards for excellence within the 2019 Banker Awards ceremony held recently in London.[/rtl]
[rtl]With its accelerating achievements, 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. Social responsibility and the bank’s national role were an essential part of its plans and its vision of sustainability during 2019, and its projects touch on multiple areas, including health, education, agriculture, electricity and infrastructure, the lives of millions of Iraqi citizens.[/rtl]
[rtl]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 development efforts The energy sector and upgrading the services provided to the Iraqi citizen. In the same year, the bank arranged a loan for the General Company for Grain Trade, affiliated to the Ministry of Trade, which amounted to 1.4 trillion and four hundred billion Iraqi dinars , equivalent to   1.2 billion two hundred million US dollars, with the aim of paying the Iraqi farmers ’dues for the year 2019 from wheat and wheat crops, and the Ministry of Agriculture lending 300 billion Iraqi dinars The equivalent of 254 million US dollars To pay the farmers dues for the barley crop.[/rtl]
[rtl]The personal loans granted by the bank increased in 2019 to 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.[/rtl]
[rtl]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 the opening of multiple branches inside Iraq, the number of which reached 26 branches, as the bank 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, the bank is working on its external expansion to diversify its income sources and revenues.[/rtl]
[rtl]Since its establishment in 2003, the Trade Bank of Iraq 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. The Bank has put forward several initiatives to finance small and medium projects in proportion to all business sectors. Trade on about 80% of commercial financing business in Iraq, and is ranked first among Arab banks in terms of cost-to-income ratio.[/rtl]
[rtl]Faisal Al-Heims, President of the Iraqi Bank for Trade and Chairman of the Board of Directors said: “The Trade Bank of Iraq 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 it generates from 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.[/rtl]
[rtl]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."[/rtl]
[rtl]And during the year 2019, the Trade Bank of Iraq won the title of "the safest bank in Iraq" by Global Finance magazine in an exclusive survey conducted by the famous magazine as part of its annual classification of the best banks in the world.[/rtl]
[rtl]-is over-[/rtl]
 
[rtl]About the Iraqi Trade Bank:[/rtl]
[rtl]The Iraqi Trade Bank was established in 2003 and is the first bank in the country, and it accounts for about 80% of commercial financing business in Iraq, and ranks first among Arab banks in terms of cost-to-income ratio and 332 globally in terms of first-class capital. The bank has established 26 branches across Iraq, providing a wide range of banking services to all customers, including companies, individuals, and government institutions. As part of his ongoing endeavors to broaden its customer base and expand into new markets.[/rtl]
The Trade Bank of Iraq achieves unprecedented performance in 2019 New_Logo-150x150


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