Tag Archives | Bank of Baghdad

KRG PM Hosts Banking Leaders

By John Lee. The Prime Minister of the Kurdistan Regional Government (KRG) has held a meeting with a delegation from the banking sector, including Jordan Kuwait Bank and the Bank of Baghdad. According to a statement from the KRG, the meeting focused on potential collaborations and projects to enhance the banking infrastructure and spur economic […]

CBI Approves Sale of Bank of Baghdad

By John Lee. Kuwait's Burgan Bank has announced that the sale of its 51.8-percent share in Bank of Baghdad (BBOB) to Jordan Kuwait Bank (JKB) has been approved by the Central Bank of Iraq (CBI). The deal's completion is subject to the fulfilment of legal documentation and Iraqi Stock Exchange requirements. Burgan Bank is a […]

Tabaqchali: Banks and the Predictability of Earnings

By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Banks and the Predictability of Earnings The market, as measured by the Rabee Securities RSISX USD Index, which over the last two months discounted and looked through […]

Tabaqchali: Banks & the Iraq Investment Thesis

By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "Banks & the Iraq Investment Thesis" The market, as measured by the Rabee Securities RSISX USD Index, started the year on a positive note with […]

UGH gets Approval to buy stake in Bank of Baghdad

By John Lee. Bahrain-listed United Gulf Holding (UGH) has received approval from the Central Bank of Iraq (CBI) to buy a 51.8 percent stake in Bank of Baghdad. According to The National, the company will acquire the stake from Kuwait-based Burgan Bank. The stock-market announcement can be found here. (Sources: UGH, The National)

Market Review: “Frenzies and Market Bottoms”

By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The market, as measured by the RSISUSD index, marked an important bottom in July as part of a likely bottoming process. The multi-month bank selling shifted […]

Bank of Baghdad gets New MD

By John Lee. The Bank of Baghdad (BOB) has reportedly announced the appointment of Mr. Faisal Al- Haimus as Managing Director. According to Radio Dijla, Mr. Al -Haimus has over twenty years of banking experience with Standard Chartered, HSBC and Mashreq Bank. (Source: Radio Dijla)

Bank Earnings Take a Hit

By Mark DeWeaver. It’s been lackluster year for the ISX-listed banks. Total pre-tax profit for the 12 non-Islamic lenders that have reported so far fell 12% in the first half on a 3% decline in operating revenue, an 8% increase in operating expense, and a 21% increase in administrative expense. Earnings dropped at 7 of […]

Major New Report on the Iraqi Banking Sector

Singapore-based Sansar Capital Management has issued a comprehensive new report on the Iraqi banking sector. The report finds that while the mix of an improving macro environment and security situation offer attractive investment ingredients, many challenges remain for those interested in participating through public markets. Nevertheless, Iraq remains one of the most under-banked countries in […]

Citigroup, Bank of Baghdad Announce Strategic Partnership

Citigroup and Bank of Baghdad have announced a strategic partnership which offers corporate clients, with major business presence in Iraq, a seamless cash management solution and other relevant banking services. The client offer encompasses account services, domestic and international payments and collections, liquidity management and electronic banking solutions, backed by a comprehensive customer service and […]