Search DubaiPRNetwork.com

Home >> Banking & Investments

Trade Bank of Iraq Showcases Investment Opportunities in Iraq at Global Trade Review MENA 2020 Summit

Wednesday, February 26, 2020/ Editor -  

Share

Home >> Banking & Investments

Dubai, February 26, 2020:   Trade Bank of Iraq (TBI) promoted investment opportunities in Iraq at the Global Trade Review (GTR) MENA 2020 summit held in Dubai and highlighted their commitment towards reconstruction of Iraq through its activities in the trade finance sector.

Several infrastructure projects are underway in Iraq as the country continues to rebuild leading to several potential investment opportunities in the region especially in the power sector.

It’s assessed that the real GDP growth of Iraq is expected to grow up by an average of 3.1% by 2023 with non-oil GDP expected to grow tremendously on the back of the reconstruction efforts. 

TBI representatives present at the GTR MENA summit highlighted the potential opportunities to invest in the fledgling economy as the country continues to rebuild. 

Commenting on TBI’s participation at the GTR MENA summit Faisal Al Haimus, Chairman & President of Trade Bank of Iraq said: “We have seen a lot of success in the recent years and are on the path to bigger things. Our presence at the GTR is a reflection of our ambition to earmark our presence outside Iraq.

“TBI’s total assets has recorded an increase of 27% and our net profits has seen an increase of 68% in the year 2019 compared to the previous year and we are committed to build on this growth.  

“We are working on the growth and expansion of our operations and will be soon making a few announcements in the coming days.”

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 2020-22.


Previous in Banking & Investments

Next in Banking & Investments


Home >> Banking & Investments Section

Latest Press Release

Pandora ME for Every Side of You

H.E. Vipul Flags Off UAE's First Ever Individually Sponsored Flight to India

Quarantine Measures Threaten Aviation Restart in Africa & the Middle East

20 Million Etihad Guest Miles Donated to Support Refugees Affected by the Corona ...

Your Guide to Choosing the Right Face Mask

AU Among QS “Top 150 Under 50” for 3rd Straight Year

Football Industry Will Bounce Back Stronger From Covid-19, Says Laliga's MENA He ...

70 Percent of Businesses Increase or Maintain Digital Transformation Spend Amid ...

Taste the Summer With Wild & the Moon's Latest Menu Drop!

Dubai Well Poised for Growth in New Business Entities'

Commodities: Gold Bulls Risk Delayed Gratification in Q3

Three UAE Students Bag Coveted Princess Diana Award for Outstanding Social Initi ...

Nahdi Medical Company Transforms its Financial Management with Infor

Alstom at Forefront of Hygiene & Safety Innovation for Transport & Mobility in a ...

Go Electric or Go Off Road: Customers Choose With Jaguar Land Rover and Pivotal ...

Comprehensive Study of Refugee Children's Academic, Social, and Emotional Learni ...

Raising Criteria for Accrediting Real Estate Experts in Cooperation Between MOJ ...

Dubai Chamber Explores Prospects for Expanding UAE-Russia Food Trade

Authentic Artisan Gelato Flavours for the Summer by Mazmi Café

Team Angelwolf Set to Take on the World!