Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th October 2013).

Note: ISX will be closed starting from October 14, 2013 (Monday) due to Eid al-Adha Holiday. The next trading session will be held on October 20, 2013 (Sunday).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at ID1,698 / $1,806 (-0.8%) (weekly change). The number of week traded shares was 39.9bn and the weekly trading volume was ID56.1bn ($46.1mn).

ScreenHunter_04 Oct. 14 08.40

ISX Company Announcements

9M13 (unaudited) financial results published this week:

  • United Bank (BUND): B/S – 3Q13: Assets: IQD789bn, -8% q/q (+12% ytd), Monetary Credit: IQD502bn, -2% q/q (+30% ytd), Deposits: IQD366bn.   P&L – 3Q13: Estimated NBI: IQD10.7bn, -35% q/q (-52% y/y), Operating Profit: IQD6.8bn, -49% q/q (-62% y/y,), IQD2.1bn Net Loss in 3Q13 vs IQD17.1bn Net Profit in 3Q12 and IQD11.4bn Net Profit in 2Q13. P&L – 9M13: Estimated NBI: IQ46.0bn, -24% y/y, Operating Profit: IQD35.4bn, -32% y/y, Net Profit: IQD22.5bn, -56% y/y.
    Investment Bank (BIBI): B/S – 3Q13: Assets: IQD505bn, +3% q/q (+33% ytd), Monetary Credit: IQD237bn, +9% q/q (+31% ytd), Deposits: IQD316bn, +7% q/q (+63% ytd). P&L – 3Q13: Estimated NBI: IQD8.6bn, -9% q/q (+50% y/y), Operating Profit: IQD6.6bn, -10% q/q (+39% y/y), Profit Before Tax: IQD7.5bn, +15% q/q (+59% y/y). P&L – 9M13: Estimated NBI: IQ26.9bn, +86% y/y, Operating Profit: IQD21.3bn, +129% y/y, Profit Before Tax: IQD21.0bn, +141% y/y.
    Baghdad Soft Drinks (IBSD): P&L – 3Q13: Sales: IQD71.3bn, -5% y/y, Gross Profit: IQD11.2bn +3% y/y (Gross Profit Margin: 15.7% in 3Q13, increased from 14.5% in 3Q12), Operating Profit: IQD8.3bn, +6% y/y, Net Profit: IQD8.3bn, +4% y/y. P&L – 9M13: Sales: IQD185.0bn, +4% y/y, Gross Profit: IQD26.4bn +37% y/y (Gross Profit Margin: 14.3% in 9M13, increased from 10.8% in 9M12), Operating Profit: IQD18.3bn, +56% y/y, Net Profit: IQD18.8bn, +26% y/y.
  • Electronic Industries (IELI) will hold its AGM* on Oct. 23, to elect new board members.
  • Original shares of Credit Bank of Iraq (BROI) will resume trading on Oct. 13, 2013 after the decision to increase its capital from IQD150bn to IQD250bn through 13.3% bonus and 53.3% rights issues. The opening price will be IQD2.280.
  • Original shares of Investment Bank of Iraq (BIBI) will resume trading on Oct. 13, 2013 after the decision to increase its capital from IQD155bn to IQD220bn through 0.848% bonus and 60.442% rights issues.
  • New shares of Dar Es Salam Investment Bank (BDSI) from the capital increase to IQD150bn through 23.24% rights and 18.54% bonus issues will resume trading on Oct. 13.
  • A cross transaction occurred on IQD6.4bn Union Bank (BUOI) shares on Oct. 10, 2013. This represents 4.2% of BUOI capital.
  • New shares of North Bank (BNOR) from the capital increase to IQD265bn through 26.2% bonus issue resumed trading on Oct. 8, 2013.
  • Metallic Ind. and Bicycles (IMIB) will hold its AGM* on Oct 14, 2013 to discuss 2012’s annual report. ISX suspended trading of IMIB starting on Oct. 7, 2013.
  • Iraqi Land Transport (SILT) resumed trading on Oct. 7, 2013 after fulfilling ISC’s disclosure requirements.
  • A cross transaction occurred on 24bn Union Bank (BUOI) shares on Oct. 7, 2013. This represents 15.8% of BUOI capital.
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