Tag Archives | Burgan Bank

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)

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 […]

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 […]