Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 6th March 2014).

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

The RSISX index ended the week at ID1,844 (+1.4%)/ $1,959 (+1.4%) (weekly change). The number of week traded shares was 68.3bn and the weekly trading volume was ID71.5bn ($58.5mn).

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ISX Company Announcements

  • Abdel Basset Turki, the Chairman of CBI held a meeting on March 4, 2014, with the managers of the private banks that have not reached the target capital of IQD250bn yet.  The CBI gave them a new schedule to reach the target capital and required them to deposit some security deposits in CBI. The name of the banks and details of the schedule were not mentioned in the announcement.
  • Commercial Bank’s (BCOI) 2013 year-end (unaudited) financial results:

   B/S – FY13 (Assets: IQD335bn, -3% q/q (+14% y/y), Monetary Credit: IQD4bn, -5% q/q (+71% y/y), Cash: IQD192bn, +2% (+40% y/y), Deposits: IQD97bn, -9% q/q (-14% y/y), BV: IQD197bn, +0.1% q/q (+37% y/y), P&L (annual) – FY13 (Estimated NBI: IQD19.7bn, +24% y/y, Operating Profit: IQD10.7bn, +16% y/y, Net Profit: IQD8.9bn, -33% y/y). P&L (quarterly) – 4Q13 (Estimated NBI: IQD2.9bn, -48% q/q (+1% y/y), Op. Profit: IQD0.4bn, -90% q/q (vs. IQD1.3bn Op. Loss in 4Q12), Net Profit: IQD0.3bn, -89% q/q (vs. IQD2.1bn net loss in 4Q12).

  • Mamoura Real Estate’s (SMRI) year-end (unaudited) financial results

P&L (quarterly) – 4Q13: Sales: IQD0.49bn, -84% y/y, Operating Profit: IQD0.75bn, -86% y/y, Profit Before Tax: IQD0.22bn, -56% y/y. P&L (annual) – FY13: Sales: IQD1.94bn, -36% y/y, Operating Profit: IQD0.11bn, -73% y/y, Profit Before Tax: IQD0.43bn, +3% y/y. B/S – FY13: Assets: IQD20.1bn, +4% q/q (+38% y/y), BV: IQD16.1bn, +1% q/q (+17% y/y).

  • National for Tourist Investment (HNTI) will hold its AGM* on Mar. 19, 2014 to discuss 2011 & 2012 annual financial results, increasing its capital through bonus issue, distributing cash dividend from 2011 & 2012 profits and electing new board members. ISX will suspend trading of HNTI starting on Mar. 12, 2014.
  • A cross transaction occurred on IQD10bn Mosul Bank (BMFI) shares on Mar. 6, 2014. This represents 4% of BMFI capital.
  • A cross transaction occurred on IQD10bn Ashur International Bank (BASH) shares on Mar. 6, 2014. This represents 4% of BASH capital.
  • New shares of National Bank of Iraq (BNOI) from the capital increase to IQD250bn through 64.5% rights issue resumed trading on Mar. 5, 2014.
  • New shares of Investment Bank of Iraq (BIBI) from the capital increase to IQD250bn through 0.848% bonus and 60.442% rights issues resumed trading on Mar. 4, 2014.
  • Shares of Al-Mansour Bank (BMNS) resumed trading on Mar. 4, 2014 after the decision to distribute 6.0% (IQD0.06 per share) cash dividend from 2013 profit.
  • A cross transaction occurred on IQD12.0bn Union Bank of Iraq (BUOI) shares on Mar. 3, 2014. This represents 4.8% of BUOI capital.
  • ISC has approved to extend one more month for Iraqi Agricultural Prod. Mark. Meat’s (AIPM) new shares to resume trading from the capital increase through 9.1% bonus issue.

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