Standard Chartered Plans Iraq Push

By John Lee.

Standard Chartered bank plans to expand operations in Iraq this year.

The firm's regional head, Christos Papadopoulos (pictured), told Reuters in an interview:

"The amount of economic activity in Iraq now is substantial. We always wanted to be onshore in Iraq. It was never a question of if but a question of when.

"Iraq needs everything from pipelines, power generation, infrastructure and housing. All this needs financing."

The bank, which currently has a representative office in Iraq, plans to open branches this year in Baghdad, Basra and Erbil, as demand for project financing booms.

(Source: Yahoo!)

4 Responses to Standard Chartered Plans Iraq Push

  1. Fred 27th March 2013 at 16:09 #

    wonder if they still want warka ?

  2. emmett 27th March 2013 at 18:04 #

    Good question..I don't see why not...

  3. Lorenzo 28th March 2013 at 10:21 #

    It is only a question of price, nothing else
    SCB is better off by taking over an existing bank than by starting a greenfield bank

  4. Fred 28th March 2013 at 15:57 #

    wonder what price per share they could offer ?