Iraqi Trade Bank raises its capital to 3 billion dollars

by **claud39** Mon Mar 30, 2020 2:59 pm

Iraqi Trade Bank raises its capital to 3 billion dollars

30/30/2020

Iraqi Trade Bank raises its capital to 3 billion dollars 2429

The Economy News - Baghdad

The Iraqi Trade Bank ( TBI ) announced today, Monday, the increase of its capital to 3 billion dollars.

The bank said in a press statement received by "The Economy News", the Iraqi Trade Bank increased its capital from 2.3 billion dollars (2.7 trillion Iraqi dinars) to 3 billion dollars (3.5 trillion Iraqi dinars) in light of its business results for the year 2019 after its audit by the International Audit Company Ernst & Young ( E&Y ) and based on the approval of the Prime Minister of Iraq.

He added that he achieved great growth in his revenues for the financial year ending 31/12/2019 , reaching 708 million dollars (837 billion Iraqi dinars), an increase of 12% over the previous year and a net profit of 556 million dollars (657 billion Iraqi dinars), an increase of 68% from last year.

http://economy-news.net/content.php?id=19520

by **claud39** Tue Mar 31, 2020 8:22 am

Within the framework of a new strategic vision which strengthens its place
Iraqi commercial bank
Announces an increase in its capital to billions of dollars

Baghdad, March 31, 2020

Iraqi Trade Bank raises its capital to 3 billion dollars 91989507_2263117860661720_6136652712793604096_o.png?_nc_cat=1&_nc_sid=8024bb&_nc_oc=AQmj8sek0UsN9NPatfOMWmA-5UQeDNFrobAVXUBOOHWJIjP56aWbm-S9BAT3-YQ2STE&_nc_ht=scontent-yyz1-1

Iraqi Trade Bank raises its capital to 3 billion dollars 91989507_2263117860661720_6136652712793604096_o.png?_nc_cat=1&_nc_sid=8024bb&_nc_oc=AQmj8sek0UsN9NPatfOMWmA-5UQeDNFrobAVXUBOOHWJIjP56aWbm-S9BAT3-YQ2STE&_nc_ht=scontent-yyz1-1

The Iraqi commercial bank (tbi) announced a new increase in its capital which adds more strength in line with its strategic vision for the years 2020-2023.
The Iraqi Commercial Bank increased its capital from $ 2.3 billion (2.7 billion Iraqi dinars) to $ 3 billion (3.5 billion Iraqi dinars) based on the results of its work for 2019 after being verified by Ernest & Young ( E & y) and based on the approval of the Iraqi Prime Minister.

Iraqi commercial bank posted strong revenue growth for the year ended 12/31/2019, at $ 708 million (837 billion Iraqi dinars), an increase of 12% over the previous year and a net profit It reached 556 million dollars (657 billion Iraqi dinars), an increase of 68% compared to the previous year

The bank also recorded an overall growth of its assets of 29 billion dollars (34 billion Iraqi dinars), an increase of 27% over the previous year.

On this occasion, the President of the Iraqi Commercial Bank and Chairman of the Board of Directors said that the increase in capital announced today is an important step to strengthen the financial base of the bank which would strengthen our ability to put implementing our strategic plan. For the next three years, to increase our revenues and profits. "

This increase in the bank's capital is the most significant in its history since its creation in 2003.

Mr. Heims added:" We have accomplished many achievements during the past years, but the road is long, because our ultimate goal is to improve and promote Iraqi society,

In the same context, the Iraqi commercial bank transferred 20% of its profits for 2019 and equivalent of 111 million dollars (131 billion Iraqi dinars) to the state treasury on the basis of the approval of the Prime Minister Iraqi.

It should be noted that the Iraqi commercial bank opened its first branch outside Iraq the previous year 2019 in Riyadh (Saudi Arabia) and also plans to update its representative office in the United Arab Emirates / World Market D 'Abu Dhabi to enable him to do Consultant and investment management.

It's finish.

About the Iraqi Bank of Commerce:
The Iraqi commercial bank was created in 2003 and is the first bank in the country, owns around 80% of the commercial financing in Iraq and occupies the first place among the Arab banks in terms of cost in relation to income and 332 World in terms of First class capital The bank has established 25 branches across Iraq, providing a wide range of banking services to all customers, including businesses, individuals and public institutions. As part of its continuing efforts to expand its customer base and expand new markets.

المصرف العراقي للتجارة _ Trade Bank Of Iraq

by **claud39** Wed Apr 01, 2020 9:16 am

Iraqi Trade Bank: postponing the payment of loan installments granted to the beneficiaries of the Basmaya and Al-Darasah project for two months

04/01/2020

Economy News _ Baghdad

The Trade Bank of Iraq announced, on Wednesday, that it will postpone the payment of loan installments granted to the beneficiaries of the Basmaya and Study project for two months.

The bank said in a statement, "Economy News" received a copy of it, that it "decided to postpone the payment of loan installments granted to the national and non-national employees with their salaries with the bank."

The bank added that "the postponement also included beneficiaries of a project with the protection of housing and a study loan without interest for a period of two months, starting from 1/4/2020 until 31/5/2020."

http://economy-news.net/content.php?id=19541

Iraqi Trade Bank raises its capital to 3 billion dollars

Iraqi Trade Bank raises its capital to 3 billion dollars

Within the framework of a new strategic vision which strengthens its place Iraqi commercial bank Announces an increase in its capital to billions of dollars

Iraqi Trade Bank: postponing the payment of loan installments granted to the beneficiaries of the Basmaya and Al-Darasah project for two months